Working for a start-up doesn’t just mean switching out of banking into fintech. While large investment banks cut back, some senior financiers are launching their own hedge funds, investment managers and private equity firms. These are the new companies launched in the past two months, tracked by corporate finance boutique IMAS.
1. Albert Bridge Capital
Andrew Dickson left his role as partner and portfolio manager at Perella Weinberfg’s asset management division at the end of last year with plans to launch his own hedge fund. Albert Bridge Capital – an equities-focused hedge fund with $100m in assets under management that was given Financial Conduct Authority (FCA) authorisation in April.
It has four other employees currently. Stu Bohart, the former co-head of Morgan Stanley’s asset management business and president of Fortress Investment Group’s hedge fund unit, has joined as an advisor, as has David Grant, a former Fidelity equity analyst. Doriana Pavlicu, the former director of operations at Perella Weinberg, is COO. Charles Hwang, a former equity analyst at Perella Weinberg, is a partner.
2. Arqaam Capital Investment Management UK
Arqaam Capital is an investment bank headquartered in Dubai. It kept expanding in the region even as other banks cut back. Arqaam just launched its UK operation, headed up by its head of alternatives, Sanjeev Khullar, and is essentially a hedge fund. Abhilash Unnikrishnan, a former hybrids trader at Royal Bank of Scotland, is a portfolio manager focused on macro strategies, while Chetan Swarup, an equity derivatives trader, is focused on systematic trading.
3. Eisler Capital
Eisler Capital, in start up terms, is huge. It formally gained FCA approval last month, but has been hiring some senior traders from Goldman Sachs and Credit Suisse, and already has $1bn in assets under management. It helps, of course, that ex-Goldman Sachs partner-turned-philanthropist Edward Eisler, is at the helm. But it’s already been indulging in a lot of hiring in the build up to its official launch.
4. Ironwall Capital Management
The new macro hedge fund of Paul Brunsden, who was formerly COO at Abydos Capital Management, Ironwall Capital Management has been slowly building its team in the build up to its launch. Greg Gliner, who was formerly a trader at AQR Capital Management and an analyst at Tudor Investment Corp, and Vineet Patil – also a former AQR trader – have joined the investment team. Nikita Joshi, a former business analyst at Man Group, is head of operations.
5. Roxbury Asset Management
Roxbury has been set up by a number of hedge fund ‘veterans’. Stephen Zinser, who was formerly co-founder of ECM Asset Management, Sohail Malik, a fund manager at ECM and Douglas Shaw, formerly COO at The Children’s Investment Fund, are all co-founders.
George Debbas, a former partner at Metronome Capital and Citigroup trader, is a partner and portfolio analyst, Oystein Mathisen, previously in business development at Aros Capital Partners, is in marketing and Amit Staub – who was a portfolio manager in special situations credit at ECM – also joins as a portfolio manager.
6. Valuanalysis LTD
A financial research firm set up by some former investment banking heavy hitters. Pascal Costantini, a former managing director at Deutsche Bank, Joakim Darras, who was previously head of client solutions at ING and Diarmid Ogilvy, a former UBS managing director turned independent investor, are all among the FCA registered employees.