Friday, 25 July 2014
Last updated 27 min ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…