Citadel Vet Boas Pulls Plug On Hedge Fund Plans Following Failed Fundraising

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.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.