Trafalgar's Kain Joins Prop. Firm Maven

Apr 3 2012 | 2:21am ET

A refugee from Trafalgar Asset Managers has joined a new proprietary trading firm.

Maven Securities has hired Raphael Kain, who left Trafalgar after its founder split last year. Maven was founded last year by Ivan Koedjikov, Ian Toon and Ben Huda, the former two late of Optiver and the latter previously of Tibra Capital. It focuses on event-driven and special-situations investing.

Kain told Financial News that he won't be running outside capital at Maven, at least initially. He said that mergers and acquisitions activity would pick up over the next year-and-a-half.

"If you are small and nimble there are lots of opportunities, especially in Europe," Kain said. "As well as M&A, I'm also looking at capital raisings and spin-offs and will invest across the capital structure."

At Trafalgar, Kain co-managed the firm's Catalyst Fund with co-founder Lee Robinson for five year. Trafalgar pulled the plug on Catalyst last year, leading Robinson to found a new firm, Altana Wealth. Trafalgar's other co-founder, Theo Phanos, now runs CapeView Capital, which houses Trafalgar's surviving funds.

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