Jonas Diedrich and Dave Sutton, former traders at Citadel, have raised $1.85bn for their new London-based hedge fund Ilex Capital Partners, exceeding their initial $1.7bn target, and making the new fund one of the biggest debuts of the year, according to a report by Bloomberg.
Jonas Diedrich and Dave Sutton, former traders at Citadel, have raised $1.85bn for their new London-based hedge fund Ilex Capital Partners, exceeding their initial $1.7bn target, and making the new fund one of the biggest debuts of the year, according to a report by Bloomberg.
The report cites an unnamed source with knowledge of the matter as confirming that the equity long-short fund, which started trading on 1 July, is expected to add a couple of hundred million more in investor capital this month before fundraising closes on 1 August.
Ilex joins a very small group of $1bn-plus fund launches and is ahead of Mala Gaonkar’s SurgoCap Partners, which launched in January with $1.8bn.
Diedrich holds the position of Chief Investment Officer at Ilex, while Sutton is Head of Trading. Former Bank of America Corp executive Ashley Jarvis is Chief Operating Officer, with another former Citadel executive, Fabian Blohm, serving as Chief Risk Officer.
