Sunday, 21 December 2014
Last updated 1 day ago
Oct 29 2013 | 7:53am ET
Société Générale's event-driven investing chief is setting up his own hedge fund—with a big assist from the bank.
Wayne Yu will launch the Condorcet Global Opportunity Fund in the first quarter of next year, Bloomberg News reports. And he'll do it while operating out of the New York offices of SocGen's Lyxor Asset Management division and with $250 million of the bank's money. Condorcet will operate independently of SocGen, however.
Yu's strategy has produced an 8% annualized return since 2010, and is up 6% this year through September.
Yu is bringing much of his team from SocGen to the new venture, including chief operating officer Steven Heller and analysts Ben Brill and Markus Homer.
Yu joined SocGen four years ago, after a six-year stint at Citadel Investment Group. A lawyer, Yu cut his teeth on event-driven matters handling mergers and acquisitions at Wachtell Lipton Rosen & Katz before moving into hedge funds and proprietary trading.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.