People Moves

BlueCrest hires Gracie convertible bond head


Jeff Toback joins the multistrategy firm as a PM in New York.

 Jeff Toback (Photo: LinkedIn)
BlueCrest Capital Management has hired convertible bond and capital structure arbitrage specialist Jeff Toback as a portfolio manager in its New York office.

Toback joins from Gracie Asset Management where he was head of the firm's convertible bonds strategy from July 2010 to February this year.

Investors have pulled about $900 million from Gracie since December following the departure of macro portfolio manager Manbir Singh and mixed performance by the firm's flagship fund. The New York-based multistrategy credit hedge fund firm led