Looking back on Taconic's marketing push

By Josh Friedlander

Wed Aug 28, 2013

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Absolute Return also revisits a Citadel macro launch.


One year ago

»» Taconic Capital Advisors was looking for a senior marketer to help with fundraising. The firm's flagship event-driven strategy was up 6.91% for the year through July, beating most of its peers and wiping out its 2011 loss of 5.45%. The firm managed $6.85 billion as of July 1, 2012.

On April 1 this year, the firm hired David Mullane as head of global client strategy, according to an internal memorandum. He had previously held senior leadership positions in BlackRock's Institutional Client Group and Alternative Investments Strategies Group, the memo said, and before that held senior positions in the alternative investment divisions of JP Morgan and Merrill Lynch.

So far, so good. Taconic managed $7.63 billion as of July 1. The flagship Taconic Opportunity Fund was up 10.6% (offshore) through the end of July.

Five years ago

»» Citadel was gearing up to launch a global macro fund that would be run by renowned London-based trader Kaveh Alamouti. The move came a few months after Citadel had lured Alamouti away from Moore Capital.

Alamouti's Citadel Global Macro Fund, has produced a net annualized return since inception of 3.16% in its offshore vehicle (launched in 2009) and 5.48% in its onshore vehicle (launched in 2010). The fund is roughly flat for the year, according to an investor. Alamouti's strategy is also part of the larger flagship multistrategy Kensington/Wellington funds. Those funds are up 9.5% for the year through the middle of August. Citadel manages $17 billion firmwide.