Sze’s Azentus Up 0.3% In April, Poised To Manage $1.8B

May 17 2011 | 10:18am ET

Azentus Capital Management, the hedge fund run by former top Goldman Sachs proprietary trader Morgan Sze, is on pace to almost double its assets in spite of a relatively slow start.

Hong Kong-based Azentus, which debuted on April 1 with US$1.06 billion, should have about US$1.8 billion in assets by the beginning of next month, Bloomberg News reports. The figure is based on expected and actual subscription requests and estimated performance.

Azentus currently manages US$1.4 billion.

In non-estimated terms, Azentus returned 0.3% in its first month, less than most hedge fund indices and well behind the broader markets.

Sze is the former co-head of Goldman Sachs Principals Strategies, where he handled the firm’s Asian proprietary investments. His former co-head, Pierre-Henri Flamand, hasn’t done much better this year with his US$2 billion hedge fund, Edoma Partners, which was up 0.2% in the first quarter.

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