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

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    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…

Publisher's Note