Antarctica Snags Latest Ivy Refugee

May 16 2007 | 6:46pm ET

One of the latest to abandon ship at Ivy Asset Management has landed on solid ground at Antarctica Asset Management.

Alan Chuang, who departed from the $16 billion fund of hedge funds last week, joined Antarctica on Monday as a principal in charge of research.

“We think very highly of Alan and we are very excited to have him here,” said Francisco Salonia-Ruzo, principal of New York-based Antarctica. Salonia-Ruzo explained that the firm’s six principals, including Chuang, all know each other from their days at JP Morgan.

“We are very excited about our returns and we continue to look for niche [hedge funds],” said Salonia-Ruzo, who co-founded the fund of funds shop in 2001.

Meanwhile, Chuang’s departure from Ivy last week, along with that of Alexander
Rabinovich, brings the number of high-level executives fleeing the Bank of New York’s fund of funds unit to at least ten this year. The exodus began in December when chief investment officer Adam Geiger stepped down.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...