Launches & Closures Hedge Funds

Ex-Deutsche Bank prop team leads new Perella Weinberg equity fund


David Baker's four-person squad is focused on diversified equities.

David Baker, the former head of long/short equity for Deutsche Bank’s proprietary trading desk, recently joined $3.03 billion Perella Weinberg Partners as a partner managing a new equity fund.

The PWP Diversified Equities Fund began trading March 1 with $354 million and managed $367 million by April 1, according to marketing documents. The fund uses the same strategy that Baker has employed since 2005. That strategy produced no down years, the documents said, without giving further details about Baker's track record. A Perella spokeswoman confirmed Baker’s hire and the existence of the new strategy, but declined further comment.