Ex-Russian Official To Launch Hedge Fund

Sep 15 2011 | 3:40am ET

A former Russian bureaucrat and bank trader has founded a hedge fund firm in Luxembourg.

Alexander Pylev’s Advantage Asset Management will launch its maiden product in the fourth quarter, HFMWeek reports. The global long/short strategy will definitely have exposure to Europe and the U.S., and may invest in Asia as well.

“The situation is very uncertain in the markets,” Pylev told HFM. “With many management companies still struggling after the 2008 crisis, clients are looking for a return on investments from other participants.”

Pylev is in talks with potential strategic partners Axioma Solutions and Topwater Investment Management; he hopes to raise US$100 million for the Advantage Foundation Fund, which has a US$100,000 minimum investment requirement with a three-month lock-up and charges 2% for management and 20% for performance.

Pylev was most recently a trader and adviser at Sudostroitelny Bank in Moscow. He also helped establish the bank’s foreign equities desk. Before entering finance, Pylev worked for the Russian government.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...