Two former Deutsche Bank managing directors, who started their own credit-focused hedge fund in 2013, have now joined Numen Capital in portfolio management and business development roles.
In what looks like a straight takeover by a larger rival, Vassilis Paschopoulos, the former head of EU IG credit trading at Deutsche Bank, and Nikos Kargadouris, an ex-partner at Lucidus Capital Partners, have left their co-CEO roles at Balliol Capital LLP – the small hedge fund they started in 2013.
Paschopoulos has taken a portfolio management position at Numen Capital, while Kargadouris is head of investor relations and business development.
Numan Capital is an event-driven and relative value fund focused on credit strategies, set up in 2008 by Fillipo Lanza, also an ex-Deutsche Bank managing director within its principal investments group, and Kushal Kumar, who was latterly a managing director at Lehman Brothers.
Paschopoulos and Kargadouris were the only registered employees of Balliol Capital. It did not file any accounts on Companies House.
Paschopoulos rejoined Deutsche Bank in June 2011 after a two-year stint at UBS where he was head of IG corporates credit trading. Previously, he had spent six years at the German bank, whereas Kargadouris worked there for nearly two years before joining Lucidus in May 2012.