Citi Vet Moves To Cheyne

Apr 24 2014 | 10:17am ET

A founding partner of former Citigroup proprietary trader Sutesh Sharma’s hedge fund has joined Cheyne Capital Management.

David Darmouni began at Cheyne’s event-driven team this month, focusing on financial markets. He left Sharma’s Portman Square Capital Management last summer, having left Citi with Sharma to launch it in 2012.

Darmouni worked at Citi for four years.

Portman Square was expected to be one of the largest hedge fund launches since the financial crisis. But Sharma found difficulty raising the US$500 million he hoped for, and eventually the fund debuted—six months late—with just US$100 million. That forced Sharma to cut back on his staff- and infrastructure-heavy firm, parting ways with several employees just before its launch.

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