|Edouard Salet, a former portfolio manager at Deephaven Capital, has founded Apson Capital Management. Mr. Salet plans to launch the firm’s first hedge fund with a global long/short equity strategy this summer. Daniel Goldstein, the former director of equity flow sales at BNP Paribas, will be joining Apson Capital as its chief executive officer, according to an article from the Financial News.|
Industry insiders are expecting that former proprietary traders will dominate new hedge fund launches in 2011. Notably, Frederic Denjoy recenlty left Brevan Howard Asset Management to found Denjoy Capital Partners. Denjoy, who was an equities trader at BHAM, is expected to launch the firm’s first hedge fund sometime next month.
In addition to Edouard Salet, a number of other Deephaven Capital Management veterans have launched hedge funds, following Stark Investments buyout of the hedge fund manager in 2009. The most notable include Tony Chedraoui’s $1.6 billion launch of Tyrus Capital LLP and Sanjiv Bhatia’s launch of Isometric Capital Management, which was seeded by FRM Capital.