|Ali Akay, previously a trader at SAC Capital Advisors, announced the impending launch of his new emerging markets hedge fund Carrhae Capital. Carrhae Capital will be based out London is slated to begin trading with around $200 million and hopes to reach half a billion by first quarter 2012.|
Mr. Akay spent almost 3 and a half years as a portfolio manager at SAC Capital Europe before leaving in October 2011. Prior to SAC, he was a Director and portfolio manager at HBK Investments. Mr. Akay has also spent time in Goldman Sach’s Principal Strategies Group and at McKinsey & Company.
SAC Capital Advisors has $14 billion in assets under management and was founded by hedge fund legend Steven Cohen in 1992. Over the years, SAC has a served as a breeding ground for star traders who have eventually left to start their own funds.