Star trader Hamza Lemssouguer, is getting backing for his hedge fund. The fund traces its roots back to Credit Suisse.
Ex-Credit Suisse banker Hamza Lemssouguer, plans to launch a hedge fund in the first quarter of 2022 with the backing of Squarepoint Capital, «Bloomberg» (behind a paywall) reports Tuesday, citing unnamed sources.
Initially, the 31-year-old Moroccan-born banker wanted to run the asset management fund Arini, at Credit Suisse. But then came Greensill Capital, followed by Archegos, and the bank had to shackle its risk-taking and halted the fund in its tracks.
Now, with hundreds of millions of dollars raised by Squarepoint Capital, the fund’s team of nine aims to attract investors. After the fund's launch with about $1 billion under management next year, the intention is to spin it out into an independent company at a later date, according to the Bloomberg report.
