Pictet Seeks Investors For New Fund Led By Ex-Goldman Trader

May 3 2012 | 12:55am ET

Swiss private bank Pictet & Cie has begun marketing a new hedge fund managed by Goldman Sachs veteran Elif Aktug.

Pictet Asset Management launched a roadshow for the Agora Fund on Monday, HFMWeek reports. The firm launched the fund, which currently manages US$100 million, last April; it has lost about 2.3% through earlier this year.

Analyst Vincent Ijaouane said Pictet has no capacity in mind for the equity long/short fund. But he said that garnering at least US$1 billion “should be no issue.”

“We believe the recent turmoil in Europe provides us with highly interesting investment opportunities,” Aktug, a former Goldman trader, said. “Well-funded corporates will be looking towards strategic change, especially in M&A. As always in times of change, there will be strategic winners and losers. The fund is able to take positions in both in order to create value.”

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