SocGen Event-Driven Prop. Trader Plans Hedge Fund

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.


In Depth

Fund Focus: Asian Frontier Capital Offers U.S. Investors Access To Untapped Markets

Mar 2 2015 | 6:47am ET

Hong-Kong based asset manager Asian Frontier Capital is making a capital raising...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note