Tuesday, 1 December 2015
Last updated 2 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…