(Bloomberg) -- Carlo Agostinelli, a managing director at hedge fund Ghisallo Capital Management in Hong Kong, has left the firm after just over a year, people with knowledge of the matter said, asking not to be identified because the information is private.
Agostinelli was listed as one of the two responsible officers of Ghisallo’s Hong Kong office when it was awarded a regulatory license by the city’s securities watchdog on Nov. 29. His license was taken away on Dec. 9, according to information posted on the website of the regulator.
He joined the Boston, Massachusetts-based firm in October 2023, according to his LinkedIn profile.
Agostinelli and representatives for Ghisallo didn’t respond to requests for comment.
He was previously co-head of UBS Group AG’s Asia equity capital markets syndicate. He joined Ghisallo as it geared up to open a Hong Kong office, with the city’s standing as a financial center suffering in the aftermath of Covid and investor pessimism around China.
The firm earlier this year hired another former equity syndicate banker, Kun Lin Ho, who previously worked at Morgan Stanley.
Chief Investment Officer Michael Germino worked for Soros Fund Management and Key Square Group before founding Ghisallo four years ago. Its investment strategies include wagers on rising and falling stocks, event-driven, credit and global macro trading in multiple asset markets, a regulatory filing shows.
The firm oversaw $3.4 billion at the end of 2023 and is one of the major players in Asian ECM deals.
There have been several new entrants since the winding down of Segantii Capital Management in May after an insider trading charge in Hong Kong. The firm and its founder pleaded not guilty in court this week.
Former Goldman Sachs Group Inc. partner Jamie Goodman’s Pamalican Asset Management Ltd. started trading this year. It’s been a cornerstone investor in Hong Kong listings such as Midea Group Co.’s $4.6 billion share sale in September. Former Segantii portfolio manager Pascal Guttieres also set up ECM-focused hedge fund Viridian Asset Management Ltd.
--With assistance from Bei Hu.
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