Ex-Citi Emerging Markets Head Plans Hedge Fund

Aug 26 2013 | 10:32am ET

Former Citigroup emerging-markets stock-research chief Rhys Summerton is set to launch a hedge fund with upwards of US$50 million in initial assets.

Ascot, U.K.-based Milkwood Capital will launch its maiden fund in September, Bloomberg News reports. Summerton plans to put US$20 million of his own fortune into the project and has won “indications of interest” from potential clients exceeding US$50 million, he said in a pitch letter.

Milkwood will employ a global long/short equity strategy, he said.

Summerton spent more than a decade at Citi, rising from head of research for Central and Eastern Europe, the Middle East and Africa to lead the emerging-market equity team in 2010. He left the bank in 2010.

Milkwood has signed Morgan Stanley to serve as its prime broker.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...