Hedge Fund Movers

Rival hedge funds snap up Segantii alumni

Since May, more than half of the Hong Kong licensed employees who left Segantii Capital Management have secured positions at rival hedge funds, including Jain Global and Qube Research & Technologies, according to a Bloomberg report.

The report, based on Hong Kong's regulatory registry, indicates that 19 out of 35 departing staff members over the past five months have found roles at international and regional hedge fund firms.

Notable hires include global firms like Jump Trading LLC, as well as regional players such as Dymon Asia Capital (Singapore) Pte and Ovata Capital Management Ltd. Jain Global alone recruited at least four former Segantii employees, including portfolio manager Kaushik Ramakrishnan. Meanwhile, Ng Lap Kiu, Segantii’s former head of Asia trading, joined Ovata as a portfolio manager.

Tribeca’s Liu hires Distribution Head, CEO for new hedge fund

Jun Bei Liu, the former star hedge fund manager at Tribeca Investment Partners, has made her first major hire for her upcoming long-short fund, which is set to launch next year. According to a Bloomberg report, Liu has appointed Jason Todd as Chief Executive Officer and Head of Distribution.

Liu confirmed on Thursday that Todd, the former Chief Investment Officer of Commonwealth Bank of Australia’s private banking unit, will lead the new Sydney-based fund, which is targeting AUD 1.5 billion ($1 billion) in assets. Though the fund is yet to be named, it has already secured backing from Tribeca.

Before his role at CBA, Todd was Head of Wealth Management Investment Strategy at Macquarie Group Ltd, according to his LinkedIn profile.

Cinctive Deputy CIO and macro exec exit

Cinctive Capital Management has seen the departure of key executives, including Deputy Chief Investment Officer Michael Haddad and Head of Macro Giles Coppel, according to Bloomberg..

Founded in 2019 by Richard Schimel and Lawrence Sapanski, Cinctive started as an equity-focused hedge fund and later expanded to include macro and quant strategies. Despite combining its flagship equity and macro funds in August, Cinctive has struggled to attract significant capital, managing $3 billion, a figure unchanged since 2022.

While larger hedge funds like Balyasny and Citadel have seen inflows, Cinctive's early backing came from the Employees Retirement System of Texas, which initially invested $126 million in its equity fund. That investment grew to $142 million by the end of 2023, with a return of 11.75% through September.