Thursday, 20 November 2014
Last updated 3 hours ago
Jul 29 2011 | 11:56am ET
Highbridge Capital Management's former Asia chief has hired a chief operating officer for his new hedge fund, which will debut later this year.
Carl Huttenlocher will launch his Hong Kong-based Myriad in September, employing the same strategy he used to such great effect at Highbridge's US$1.4 billion Asia Opportunities Fund. In preparation for the launch, Myriad has hired Scott Gaynor as its chief operating officer.
Gaynor joins the firm from Morgan Stanley. Huttenlocher is barred from poaching any of his former team at Highbridge.
Myriad is expected to begin trading with about US$300 million, Reuters reports. The new fund will open to outside investors early next year, when it's expected to increase its assets under management to well in excess of US$1 billion. Many of those investing in Myriad are likely to be former clients of Huttenlocher's at Highbridge; his fund was liquidated after he announced his plans to quit in February.
Before joining Highbridge, Huttenlocher worked at Long-Term Capital Management and Citadel Investment Group.
Myriad will be only the latest huge Asian hedge fund launch this year, following the US$1 billion debut of former Goldman Sachs proprietary trading chief Morgan Sze's Azentus Capital in April and the planned US$1 billion launch of former DKR Oasis manager Seth Fischer's new venture later this summer.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...