Cheyne hires derivatives specialist in Hong Kong

Pradeep Swamy has been hired by Cheyne Capital Management as a portfolio manager in Hong Kong, bringing with him a track record in derivatives and arbitrage strategies that should allow the expanding hedge fund to invest in volatility as an asset class.

He will invest for the Cheyne Fund and CheyneÆs leveraged funds in the pan-Asian markets. The scope of his investing activities will include convertible bonds, volatility and credit relative-value strategies.

This is a new position following the companyÆs expansion into Asia in light of increasing investment opportunities seen across the region. Among the firmÆs plans are to set up an investment team in the medium term and further build the companyÆs presence in Asia. Cheyne sees growing opportunities across the region and has received active interest from its investor base to dedicate resources to Asia.

Previously, Swamy worked at Och-Ziff Capital Management where he was trading the volatility and credit arbitrage portfolio.

Cheyne Capital Management launched its first fund in June 2000. It is a London-based multi-strategy hedge fund firm with $7 billion of assets under management and offices in the United States, United Kingdom and Hong Kong. Its funds specialize in convertible bonds, credit and asset backed securities, equities and event-driven investing.