•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

From Komfie Manalo, Opalesque Asia – Citing money concerns, former Citadel’s global head of credit Chris Boas has put on hold his plan to launch his new hedge fund, Longwood Credit Partners LLP.

Bloomberg quoted Andrew Honnor, a spokesman for the London-based firm as saying that Boas had "decided not to pursue investor funds due to fundraising market conditions."

The 41-year-old Boas has been struggling to raise money for his hedge fund that focuses on prices differences between debt securities, as investors are not interested in putting money into a strategy that has no track record yet, Bloomberg said.

The report also cited a study by Goldman Sachs that found that only 37% of the 730 hedge fund investors it surveyed would invest into hedge funds that are less than three months old.

Boas, together with two other senior executives at Citadel’s securities unit, left the firm in January 2011. Citadel, the Chicago-based hedge fund run by Ken Griffin, started disbanding its securities business in August 2011, ending a three-year effort to build an investment bank.

In August 2012, Boas announced his plan......................

To view our full article Click here