Carlo Agostinelli, a Managing Director at Hong Kong-based hedge fund Ghisallo Capital Management, has left the firm after just over a year, according to a report by Bloomberg citing unnamed sources.
Agostinelli joined Ghisallo in October 2023 as the firm was expanding its Hong Kong operations – at a time when the city’s financial reputation was still recovering from the effects of Covid and investor concerns regarding China.
Agostinelli was listed as one of the two responsible officers when Ghisallo’s Hong Kong office was granted a regulatory license by the city’s securities regulator on 29 November. However, his license was revoked on 9 December, as indicated on the regulator’s website.
Before Ghisallo, Agostinelli reportedly served as Co-Head of UBS Group AG’s Asia equity capital markets syndicate.
Founded by Michael Germino, a former Soros Fund Management and Key Square Group executive, Ghisallo specialises in various investment strategies, including event-driven, credit, and global macro trading, alongside bets on rising and falling stocks.
Earlier this year, Ghisallo also hired Kun Lin Ho, a former equity syndicate banker from Morgan Stanley.
According to a regulatory filing, the firm managed $3.4bn by the end of 2023 and is a key player in Asian ECM deals.
