Friday, 22 August 2014
Last updated 4 hours ago
Jun 12 2013 | 10:22am ET
An impressive pedigree from Citadel Investment Group wasn't enough to convince investors to back Chris Boas' planned hedge fund.
Boas's Longwood Credit Partners is the latest victim of an increasingly difficult fundraising environment. The London-based firm, which had hoped to begin trading in the first quarter, will not "pursue investor funds due to fundraising market conditions," a spokesman told Bloomberg News.
Longwood's struggle to find clients comes at a particularly tough time for European hedge funds, which investors are shying away from. Europe was the only one of 13 geographic regions tracked by Credit Suisse Group to see negative demand for hedge funds last year.
Investors refused to back Boas in spite a résumé that featured stints as head of credit for Citadel's hedge funds and as head of credit markets and co-head of institutional sales at Citadel's investment-banking unit, Citadel Securities. Boas also formerly worked at Morgan Stanley.
Boas planned to run a fixed-income arbitrage strategy at Longwood, and had hired fellow Citadel veteran Keshev Lall to serve as an analyst at the firm.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note