Ex-Citadel Trader Raises $1.5B For New Hedge Fund

Nov 20 2007 | 1:53pm ET

Anand Parekh, who left Citadel Investment Group under something of a cloud, has raised $1.5 billion for his own hedge fund.

Parekh’s new Chicago-based shop raised the capital from Deutsche Bank, and is seeking additional investment before launching the fund, Reuters reports. It will pursue a multi-strategy, multi-asset class investing course.

Parekh left Citadel a year ago, amid rumors of the hedge fund giant’s imminent collapse. His global stock trading group had underperformed Citadel’s other business groups in the months leading up to his departure.

Prior to joining Citadel in 2003, he was head of the North American structuring group at Deutsche Bank.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of