Wed, Stifel Financial has laid off some members of an execution-trading desk that counts hedge funds among its clients. Louis investment-banking firm’s dismissals included a market-making specialist; the head of a quantitative desk that handles large orders for hedge funds; a salesman focusing on cash services; and several equity salesmen and analysts.Execution-trading desks complete orders placed by clients. Wed, Global-macro startup AKAZ Investment raised million for a U. The Miami firm, led by former Brevan Howard Asset Management trader Ahsim Khan and one-time Blockhouse Capital research chief Adam Zimbler, plans to launch an offshore version in the third quarter.In the past six months, the New York firm has been hired by four fund-management companies to assist them in the wind-down process.
Almansi had been employed at Citigroup since 2012, most recently arranging financing for hedge funds and private equity funds via its private-bank unit. Wed, HN Capital has hired a business-development chief.
Cobia has posted double-digit returns in six of its 10 full years of trading, and was roughly flat in the three other years.
Only in its first year, 2008, did the fund post a substantial loss, dropping 10.3%. Wed, A year after setting up shop, hedge fund operations consultant Cherry Valley Solutions is seeing strong demand from managers in liquidation mode.
Morrow’s Boston startup, Callodine Capital, began trading with partner money and a big chunk of capital from an unidentified family office — the first installment of a 0 million commitment.
Morrow, who previously ran some billion in Fidelity mutual funds, recently began marketing the Callodine Capital Fund to other...