One year ago
»» John Paulson was closing in on what would be the worst month in the seven year history of the Paulson Advantage Plus fund (data here). The leveraged, event-driven strategy finished the month down 14.94%, compared with a 4.49% drop for the AR Event Driven Index.
The next month, the fund shed another 19.37%; and ended the year down 52.48%. This year, the fund has dropped an additional 19.57% through the end of July.
Paulson spokesman Armel Leslie declined to comment.
See also: Paulson Europe Partner Mina Gerowin retires • Senior marketer Larry Pokora leaves Paulson
Five years ago
»» UBS Global Asset management hired Mark Melchiorre, a former Credit Suisse high-yield executive, to head the credit strategies of its O’Connor hedge fund division.
Melchiorre stayed for four years, departing at the end of 2011 as he prepared the launch of Taurasi Capital Management, a new long/short credit hedge fund. The New York-based firm plans to begin trading next month with approximately $250 million, according to a person familiar with its plans.
Melchiorre declined to comment. UBS spokeswoman Megan Stinson could not immediately say who replaced him at O’Connor.
| John Dyment |
»» Shumway Capital Partners, which then managed $5.2 billion, hired Deutsche Bank hedge fund capital introduction head John Dyment as president. Dyment stayed until June 2011, according to his LinkedIn profile, shortly after Shumway announced he was returning all outside capital in his firm. Before closing, Shumway had received redemption requests totaling 40% of its $8 billion under management.
Dyment joined UBS as global head of hedge fund distribution, but left in April. “I left UBS earlier this month to return to the buy side. I am looking for a President/COO/Marketing role at a Hedge Fund similar to my Shumway role,” says the LinkedIn profile.
Dyment did not respond to a request for comment. UBS, which had announced his hire in a press release, did not respond to a request.
See also: John Dyment on 2007 strategies in vogue
