‘World’s cheapest hedge fund’ closes after five years

A London hedge fund that sought to reshape the image of what it takes to manage money in the $3tn industry from the spare room of a Wimbledon townhouse, is closing after five years.

Former commodities traders Irene Perdomo and Leonardo Marroni launched Devet Capital with $29m in mid-2014 and saw assets rise to more than $100m four years later.

Both have now joined Gresham Investment Management as managing directors...

Numeric taps Bain for compliance head

Kendell Benz joins Man Group quant arm in Boston...

LMR hires ex-Paloma, BlueCrest PM

Distressed debt specialist John Silvetz joins the $6.7bn hedge fund...

Hedge-Fund Traders Fight BlueCrest’s Michael Platt Over Bonuses

BlueCrest Capital Management is suing two former traders who say they were forced to leave when the hedge fund’s billionaire owner, Michael Platt, described the equity trading business as “crap” and hinted it could close.

The traders, Alex Codrington and Russell Hartley, say they felt they had no future at the firm after an unpleasant meeting with Platt on plans for his fund’s stock trading. They allege in a Nov. 29 filing prepared for a London court case that Platt said the discussion was so depressing that he should have brought the drug Prozac...

Bridgewater’s Eileen Murray to Depart, Leaving David McCormick as Sole CEO

Eileen Murray, co-chief executive of Bridgewater Associates, is leaving the $160 billion firm, marking yet another chapter in Ray Dalio’s long-running succession saga.

Murray, 61, will depart at the end of March, she said in a note to colleagues on Tuesday. Her counterpart, David McCormick, 54, will become sole CEO at Bridgewater, which operates the world’s largest hedge fund...

Brevan taps Deutsche rates head

Mark Deniston rejoins $7bn macro hedge fund in London...

Deutsche Bank’s head of corporate M&A joined a hedge fund

James Ruane, the global head of corporate M&A at Deutsche Bank, joined a hedge fund.

Ruane has just joined Bayview International in London as head of special situations according to his LinkedIn profile. He arrives after six and a half years in M&A with Deutsche Bank where he was responsible for - among other things - the sale of Deutsche's prime brokerage business to BNP Paribas...

Millennium hired a managing director from Morgan Stanley

2019's other big recruiter struck again: hedge fund Millennium Management added another new portfolio manager in London.

Millennium's latest hire is Karim Cellier, a former managing director in delta one trading at Morgan Stanley. Cellier joined the fund this month according to his LinkedIn profile...

Highbridge PM Singh joins Polymer

India-focused PM joins Angus Wai's multi-strategy outfit...