High-profile ex-Goldman trader quits US hedge fund

Date: Tuesday, September 2, 2008
Author: Wealth Bulletin.com

Halcyon Asset Management, the US hedge fund that scrapped a plan for an initial public offering earlier this year, told its clients that Steve Mandis, a high-profile ex-Goldman Sachs trader whose funds are down significantly had quit, according to a report in The Wall Street Journal.

Mandis, who led a multibillion-dollar proprietary credit portfolio at the Wall Street bank, joined Halcyon in October 2004 to help it expand into credit investments.

The news comes as two funds managed by Mandis with nearly $1bn (682m) in combined assets, the North American and European Structured Opportunities funds, have lost about 20% this year.