Bank Vets Ready European Event-Driven Hedge Fund

Apr 2 2014 | 1:40pm ET

A quartet of former bankers is set to launch an event-driven hedge fund to take advantage of Europe’s economic recovery.

Andrea Angelone, Amit Jain, Guido Miani and Simone Russo have founded Amagis Capital in London. The strategy, which will debut on May 1, seeks to benefit from increasing corporate activity in Europe and opportunities created by banks’ exit from proprietary trading.

“There is an opportunity right now in the European market to deliver superior returns because of recovering activity,” Angelone, a JPMorgan Chase veteran and CEO of the new firm, told Bloomberg News. “After many years on the sell-side, we have the experience and knowledge to be able to deploy a slightly different approach in the event-driven space.”

Angelone and his partners have raised US$35 million from six investors for the launch. The firm aims to manage US$100 million by the end of the year and US$500 million within three. Amagis also plans to open an office in Monaco.

Angelone was once head of JPMorgan’s prime brokerage, and left the bank last year. Jain also formerly worked at the bank, while Miani was a fixed-income trader at UBS. Russo worked at JPMorgan and Goldman Sachs before founding his own firm in 2009.


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