Goldman's Assaly Plans Quant. Hedge Fund

Apr 17 2012 | 2:29pm ET

Yet another former Goldman Sachs proprietary trader is set to launch a hedge fund.

George Assaly has founded Alcova Asset Management. The quantitative hedge fund could prove to be one of the largest launches of the year, HFMWeek reports.

Assaly was head of Europe, Middle East and Africa quantitative trading at Goldman until leaving in June. He spent seven years at the bank, which he joined from BNP Paribas. Prior to taking over EMEA quant. trading, he led Goldman's Asia quant. desk in Tokyo.

Assaly is working with former PCE Investors chief operating officer Russell Hart on the new venture. No other information about Alcova was available.

At least seven former Goldman prop. traders or groups of former prop. traders have launched their own hedge funds, are planning to do so or have joined an existing shop. The group is led by Pierre-Henri Flamand and Morgan Sze, whose Edoma Capital Partners and Azentus Capital Management already manage billions. Goldman was forced to shutter its prop. trading operations to come into compliance with new U.S. regulations.


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note