A hot new hedge fund just made some big hires
Ben Melkman, a former partner at Brevan Howard, is launching a new fund called Light Sky Macro in New York.
The fund is targeting $400 million and a launch date in the first quarter of next year, Business Insider previously reported in our round-up of upcoming launches. Melkman is known for his lead role at Brevan's $500 million Argentina fund, which delivered an 18% return since its inception.
Melkman's new hires include Barry Schachter, who is joining as chief risk officer and a partner. Schachter previously held the same role at hedge funds Caxton Associates, SAC Advisors, Balyasny Asset Management and Moore Capital. His most recent hedge fund job was at 40 North Management, which he left at the end of last year, according to a LinkedIn profile.
Alberto Ades is joining the new launch as head of research. He was previously co-head of global economics and head of global EM fixed income strategy at BofA Merrill Lynch from 2010 through March of this year, according to a LinkedIn page. He has also held macro research roles at Citigroup and Goldman Sachs.
Douglas Spiegel is joining as CFO and CCO, and he previously held the same roles at Realm Partners, an event driven hedge fund, from 2009 through last year, according to a LinkedIn page. Before that, he held the same roles at Sanno Point, a credit relative value hedge fund, from 2004 through 2009.
Joseph Mauro, a Goldman Sachs partner, is joining the fund October 1. Mauro previously headed Goldman's European hedge fund coverage across fixed income, emerging markets, FX, credit and commodities. Business Insider reported his departure in June.
While he was at Goldman, Mauro wrote a memorable memo to junior staff that put the industry's troubles in perspective.