Hutchin Hill Capital has snapped up the latest Nobel prize in economics winner, even before it knew he had won the award.
New York-based Hutchin Hill told investors in September that New York University's Thomas Sargent had signed on as an adviser to the $1.5 billion firm, The New York Times reports. The following month, Sargent and Princeton University's Christopher Sims were announced as the winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for "their empirical research on cause and effect in the macroeconomy."
Professors Sargent and Sims will formally receive the award next month in Stockholm.
"We believe working with Professor Sargent will be of significant value in developing a deeper understanding of the macroeconomic background that has had such a large impact on risk sentiment and asset prices, especially during the past three years," Hutchin Hill wrote.
Hutchin Hill was founded three-and-a-half years ago by former SAC Capital Advisors manager Neil Chriss. Chriss ran five subfunds for SAC's Multi-Strategy firm until his departure in 2007. Prior to joining SAC, he worked at Goldman Sachs' quantitative strategies group and Morgan Stanley's institutional equities division.