Ex-Goldman MD sets up hedge fund, borrows some colleagues

efinancialcareers.com:

Some people leave banking to work for a hedge fund. Others… Leave to start their own hedge fund.

Such is the case with Nader Awada. Awada joined Goldman Sachs in 2018 as an MD, after two-year stints at Moore Capital Management in London and Carmignac, the asset manager, in Paris. He was a portfolio manager at the former and a fund manager at the latter.

He’s now founded a hedge fund – Noventa Capital Management – in London. Noventa is a macro systematic fund, or in common (slightly) more common parlance, a quant fund. The fund is only young, but already has offices in Lodnon and Dubai.

He isn’t the only former Goldman face at Noventa. He’s also brought on Piotr Ciepliński and Leon Chen as quantitative developers and researchers, respectively; Ciepliński in Dubai and Chen in London. Chen has been with Goldman for some time in quant-related roles, but Ciepliński hadn’t even been at the bank for two years before throwing his lot in with Awada.

Actually setting up your own hedge fund is a far higher step up than just joining a multistrategy player, but there are benefits to both – including a higher proportion of the profits you’ve generated (called PnL) to take home as your own money, or not if your performance is poor. 

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