Andromeda Capital Management, a new hedge fund firm launched by former Algebris Investments’ money managers Alberto Gallo and Aditya Aney, has started trading in London, according to a report by Bloomberg.
In an interview with Bloomberg, the duo said the fund has secured $200 million from an undisclosed investor and capital from the firm’s partners. The firm, which specialises in credit and rates trading, is reportedly looking to grow assets to more than $1 billion.
The new firm, one of the largest hedge fund start-ups in Europe this year in an admittedly quiet year for launches, will employ a strategy that will look to take advantage of market volatility as central banks act to curb inflation.
Recent data compiled by Hedge Fund Research Inc shows that hedge fund launches fell to just 80 during the second quarter, the lowest quarterly figure since Q4 2008.
