Launches and New Funds' News
We recently heard of those ex-hedge funders striking out on their own:
1. Dai Jixin, a former manager of Soros Fund Management, plans to start a new hedge fund in Hong Kong, said SCMP. Dai's Xin Tian Fund Management was incorporated in late January with two other directors, Ye Qingjun, chairman of Chinese asset manager DH & YZ Capital, and Zhang Yongjun, DH & YZ's chief investment officer.
2. Tim Attias and Santiago Alarco, two former executives at Rubicon Fund Management LLP, raised around $300m for their own hedge fund, Canosa Capital LLP, almost a year after settling a lawsuit brought by their former employer, said Bloomberg. They received backing from Brummer & Partners (Brummer featured in New Managers in February'13: Focus - Starting out up North).
Former bankers and others who are starting new funds:
3. The former head of European credit flow trading at UBS, Yassir Benjelloun-Touimi, left the Swiss bank to set up a new hedge fund, Arcade Capital Partners, which is expected to be USD150m in size and to focus on the most liquid part of the market, Bloomberg said.
4. Thomas Marano, the outgoing head of Ally Financial Inc.'s subprime lender, Residential Capital, is pursuing other opportunities in the mortgage business that could include starting a hedge fund or real-estate investment......................
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