Tuesday, 5 May 2015
Last updated 10 hours ago
Apr 3 2014 | 11:30am ET
One of the big winners from the mortgage crisis is set to parlay his success into a hedge fund of his own.
Cyrus Sadiq helped engineer Cedar Hill Capital’s bet against subprime mortgages in 2007 and 2008, years that saw the hedge fund return 198% and 96%, respectively. Now, after two years honing his skills as a financials stock-picker at Visium Asset Management, he’s striking out on his own.
Sadiq plans to launch an equity hedge fund focused on financials by the end of the year, Hedge Fund Alert reports. Sadiq’s new venture still lacks a name—and two staff members that Sadiq plans to hire before its debut. But the New York-based firm will invest in a wide array of financial companies, including technology providers, real-estate investment trusts and homebuilders.
Initially, Sadiq’s fund will focus on the U.S., but he eventually plans to invest in broader geographies.
It is unclear how much Sadiq hopes to raise for the new fund.
Sadiq worked at Cedar Hill from 2006 through 2011, joining the firm from Goldman Sachs. He left Visium in August.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…