As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 8 hours ago
Feb 13 2012 | 4:58am ET
Two veterans of two top hedge funds have joined forces to launch a new firm, with as much as US$100 million in commitments more than two months before its expected debut.
Masroor Siddiqui and Bruce Emery have set up Naya Capital. The new firm has already lined up between US$75 million and US$100 million in capital from friends and family of the two men, who formerly worked at The Children's Investment Fund and Citadel Investment Group, respectively, Financial News reports. And the firm is in talks with several institutional investors.
Naya will launch its maiden fund, a global long/short equity vehicle, on May 1, a spokesman said. The fund will include about 40 names, and in addition to its core stock portfolio will opportunistically invest in credit.
Siddiqui was head of global credit and equity at TCI before becoming that latest partner at the London-based activist shop to head for the doors. He joined TCI in 2009 from Canyon Capital Partners. Emery was head of European equities at Citadel.
In addition to Siddiqui and Emery, Naya will have about six other staffers, including two other investment professionals. Former Theorema Asset Management CEO Ian Wylie will serve as chief operating officer.