(Bloomberg) -- Rokos Capital Management has changed its approach to equity capital markets, resulting in the departure of two partners, according to people with knowledge of the matter.
Chris Rokos’ hedge fund firm has decided to participate in ECM, which includes investing in companies through initial public offerings or secondary offerings, such as block trades, in an integrated manner rather than through a separate vertical, one of the people said.
As a result, global ECM head Benjamin Spielman, who’s based in New York, and Damien Brosnan, who focused on Asia ECM out of Hong Kong, plan to retire from the partnership, the people said, asking not to be identified discussing confidential information. Rokos will explore ECM opportunities through its broader equity trading strategy, one of the people said.
A Rokos spokesperson declined to comment, as did Spielman. Brosnan didn’t immediately respond to a message seeking comment.
Rokos, which managed about $17.9 billion as of mid-August, gained 20.6% through the first seven months of the year.
--With assistance from Crystal Tse.
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