In today’s Morning Brief:
-The downsizing trend is hitting hedge funds. Marc Lasry’s Avenue Capital Group is laying off about 6.5 percent of its staff.
-Former Goldman Sachs senior traders Rishi Chadda and Cyrus Pouraghabagher will start New York- based Kingsguard Advisors LP on Nov. 1, which will employ a global macro fixed-income strategy, with at least $50 million in initial capital from Investcorp.
-Former Deutsche Bank AG credit trader Antoine Cornut plans to start Camares Capital LLP, a hedge fund that will focus on European credit.
-A ship belonging to the Argentinian navy has been ordered held in Ghana stemming from a dispute with hedge fund Elliott Management, which has been trying to collect on bonds it bought in 2001 when the South American nation defaulted on its bonds.
