This content is from: Portfolio

The Morning Brief: Avenue to Cut 16 Jobs

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.

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