Decagon Asset Management — a hedge fund backed by Squarepoint Capital — has secured separately managed account (SMA) commitments from clients including Atom Investors, bringing its assets under management to about $450m, according to a report by Bloomberg citing people familiar with the matter.
The firm, launched by former Capstone Investment Advisors portfolio manager Ben Durham, is now operating across at least one commingled fund and four SMAs. It reportedly gained 12% in the ten months through October.
Separately managed accounts are becoming increasingly popular among hedge funds. According to a report by Goldman Sachs, $315bn total in capital was deployed into them at the end of 2024.
