Former Goldman trader Morgan Sze launching $1 billion hedge fund: report
31 Mar 2011
Morgan Sze, former global head of principal strategies at Goldman Sachs and the highest paid among Goldman traders, is all set to launch an over $1 billion hedge fund in Hong Kong, reports quoting sources said today.
Reports said Azentus Capital, which is being launched by Sze, has already received commitments of more than $1 billion.
Morgan Sze, who joined Goldman Sachs investment banking in New York in 1993, remained the highest paid trader in the investment bank till he left.
Sze is reported to have teamed up with former Goldman Sachs (Asia) executives Bruce Kirk, Mohan Rajasooria, Jenny Sun Kin-nam and Jeffrey Zielinski for the hedge fund.
At $1 billion initial funding, Azentus Capital would be one of the largest in Asia. Sources also said Sze will need a team of 20-30 people and that the entire trading desk will come from Goldman.
Sze joined Goldman Sachs in 1993 in investment banking in New York. In 1996, he co-founded the Risk Markets Group and in 1998 he moved to London to start Risk Markets in Europe. In 2001, he joined International Equity Arbitrage in London and in 2006 moved to Hong Kong. Sze was named managing director in 2003 and partner in 2006.
Prior to joining the firm, he worked at Merrill Lynch from 1988 to 1991 in New York and Tokyo.
Sze earned an MBA from Chicago Booth in 1993 and a BA from Cornell University in 1987.