A former Deutsche Bank quantitative trading chief is planning to raise $250 million for a new managed futures hedge fund.
Financial News reported that Philippe Azoulay, who spent six years overseeing Deutsche Bank’s alternative and fund solutions group, secured about $50 million in commitment from the Frankfurt-based bank for 80 Capital about a year ago. Azoulay will begin to market the new fund to investors this year in an effort to raise about $250 million in the next 12 months, which it will then soft-close to new money.
Managed futures strategies use complex computer algorithms to capture trends in global markets; Azoulay headed Deutsche’s managed futures fund since 2012.
Before Deutsche Bank, Azoulay worked at Calyon in New York where he was in charge of trading, structuring and origination for fund derivatives in the U.S.