Sunday, 29 March 2015
Last updated 1 day ago
Jun 16 2009 | 2:15am ET
Deutsche Bank’s former top global arbitrage trader will open his own hedge fund firm next month with more than $1 billion, the largest hedge fund launch of the year so far.
Roc Capital Management has raised $1.2 billion, Bloomberg News reports. Nearly half of the money—$500 million—comes from Deutsche Bank, Roc founder Arvind Raghunathan’s former employer, and will be managed in a separate account.
Raghunathan served as head of Deutsche Bank’s global arbitrage group, leading its Equitech Group quantitative trading team. The German bank shed the 20-strong team earlier this year as part of its cutback on proprietary trading. Equitech lost 1% last year.
In addition to the 20 Equitech team members, New York-based Roc will also have a 40-member team in India.
Roc’s launch is more than twice the size of the second-largest planned hedge fund debut this year. Tyrus Capital, led by former Deephaven Capital Management fund manager Tony Chedraoui, will open its doors in October, and has raised more than $500 million.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…