A former Citadel Investment Group executive will launch his first hedge fund at the beginning of next year.
Chris Boas has founded Longwood Credit Partners. The firm's maiden fund, expected in the first quarter, will employ a fixed-income arbitrage strategy, Bloomberg News reports.
Boas left Citadel at the beginning of last year, part of the massive exodus from the Chicago-based hedge fund giant's investment-banking unit, Citadel Securities. Boas was head of credit markets and—for less than three months—co-head of institutional sales. He was head of credit at Citadel's hedge funds before joining Citadel Securities, and formerly worked for Morgan Stanley in structured-credit trading.
Citadel pulled the plug on its I-banking effort last year. Another Citadel Securities veteran, Patrick Edsparr, who led the unit before his firing in 2010, is planning an Asia-focused hedge fund with a former Goldman Sachs trader and the former CEO of Boyer Allan Investment Management.
Boas has already hired his first analyst for Longwood, snagging Keshav Lall, with whom he worked at Citadel. Lall, who joined the hedge fund in 2010, formerly worked at Marblegate Asset Management and Deutsche Bank.