Interest-Rate Traders

Two Interest-Rate Traders Join $8.5B Hedge Fund

Two interest-rate traders from Nomura Holdings Inc. joined MKP Capital Management LLC, the $8.5 billion hedge-fund manager that invests in global macro and credit strategies, as hedge funds anticipate a divergence in global central bank policies.
Vivek Sahay and Lee Berkowitz will join New York-based MKP in July as money managers focusing on global interest-rate markets, according to a person familiar with the matter, who asked not to be named because the information is private. Katherine Plavan, a spokeswoman for MKP, declined to comment on the appointments.
Sahay and Berkowitz, who had been at Nomura since 2009, left their roles as money managers in the past several weeks, the person said. They previously worked together at Citigroup Inc., where Sahay was executive director and Berkowitz an associate.
MKP hired the two to capitalize on opportunities in global rates trading as hedge funds including Paul Tudor Jones’ Tudor Investment Corp. and Mariner Investment Group LLC have forecast divergence in monetary policies as some economies grow faster than others. Jones said in May that macroeconomic investing needs “central bank Viagra” because interest rates have stayed low for such a long period.
Source: Bloomberg

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