Hedge Funds

Akay’s Carrhae hits targets with unique market-neutral EM-biased equity fund


Adrian Headon
Ali Akay
Rob Kirkwood
Carrhae Capital, the new London-based emerging markets-biased long/short global equity operation led by highly-rated former SAC, HBK and Goldman Sachs man Ali Akay, has made a sure-footed start in its first few months of trading.

Despite a strong rally in equity markets in the first quarter that was less than ideal for Akay’s market-neutral and relative value-based investing approach, the Carrhae Capital fund is up by just over 6% gross (4.5% net) this year to the end of March.

Volatility since inception in