Eisler Capital, the hot $1bn macro hedge fund unveiled by ex-Goldman Sachs partner turned philanthropist Edward Eisler, is go. It’s just been given the thumbs up by the UK regulator and a number of former senior traders have signed up to be in Eisler’s orbit.
Jonathan Hall, a former partner and head of U.S. interest rates products at Goldman Sachs who left in 2013 but who remained in an advisory role until earlier this year, joined Eisler in March. Hall worked with Eisler on the board of investment firm LetterOne Treasury Services.
Carey Nemeth, a former managing director who spent 14 years at the bank until leaving in 2015, is now the hedge fund’s chief operating officer.
Outside of the executive suite, former Goldman Sachs prop traders who left after the Volcker rule clamped down on the practice have now resurfaced at Eisler Capital.
Andrew Deeley, a former prop CTA trader at Goldman Sachs and British army captain, joined in March. Dominic Steel, who was also a systematic prop trader at Goldman until 2013, joined as a portfolio manager earlier this year. It's not clear what either man was up to during the intervening years.
Eisler has also been attracting traders from elsewhere. Adrian Smaus, the former head of rates options and exotics trading at Credit Suisse, joined Eisler Capital as a trader and Rob Buckle, who was a quant analyst at Chris Rokos’ new hedge fund, is now a quantitative researcher at Eisler. Smaus left Credit Suisse in December.
Joining a start-up hedge fund is not without its risks, but Eisler’s attraction is obvious. Those who’ve worked with him have described him as one of the smartest people they’ve ever met and since leaving Goldman in 2013 he’s built up an impressive art collection while also getting involved in charitable functions.
However, as we’ve pointed out previously, his previous venture – emerging markets focused private equity firm DMC Partners – folded when sentiment on emerging markets soured in 2014.