Citi Foreign Exchange Veteran is Launching own Hedge Fund in AprilAccording to three sources familiar with the matter, Anil Prasad, a former global head of foreign exchange at Citigroup, is launching his own macro hedge fund in early April entitled Silver Ridge Asset Management with initial start-up capital of at least $500 million.
Prasad could not be reached for comment.
Silver Ridge Asset Management, which will have offices in London and New York, will have a multi-manager approach to trading led by Prasad, who left Citi in early 2014. Farhang Mehregani, also a former Citi executive, is joining Prasad in launching Silver Ridge Asset Management.
The hedge fund aims to accumulate $1 billion and will thereafter accept money more sporadically, mainly from existing investors, said the sources, who declined to be named as the information was private.
The start-up comes as macro hedge funds face an improved trading environment after nearly four years of mediocre returns as divergent economic policies across the globe raise volatility and create investment opportunities.Source: Reuters