Wednesday, 6 May 2015
Last updated 8 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…