Ali Akay, a former trader at Steve Cohen’s SAC Capital Advisors, is preparing to launch his emerging mark
Ali Akay, a former trader at Steve Cohen’s SAC Capital Advisors, is preparing to launch his emerging markets-focused hedge fund on 1 December after raising around USD200million reported Reuters. London-based Carrhae Capital, which will target investments in emerging market equities according to undisclosed sources, aims to soft close at around USD500million in early 2012. Despite tough capital raising conditions, star traders spinning out of prop trading desks and global heavyweight hedge funds like SAC Capital Advisors are enjoying success, particularly those focusing their strategies on emerging markets. Kay Haigh, ex-head of emerging markets trading at Deutsche Bank, launched Avantium Investment Management in October. The Avantium Liquid EM Macro Master Fund, which began trading on 10 October with USD180million, is hoping to grow its assets to USD350million by 1 December 2011 sources told Reuters. The fund is expected to be capped at USD1billion.
