Hedge Funds

Kingdon adds to Asia team, loses macro PM

by Josh Friedlander

The firm continues to add staff despite negative performance.

Although its assets have fallen and performance is negative for the year, Kingdon Capital Management has continued to expand its staff.

The firm’s flagship global long/short equity strategy, which manages $4.3 billion, was down 1.55% for the year through June 30 following a 2.35% loss that month. The Kingdon Credit fund, which manages about $290 million, gained 4.9% in the first half of the year. The firm’s assets totaled $4.6 billion in June, down from $4.8 billion on January 1.

Despite these losses, or perhaps because of them, Kingdon has recently hired an Asia portfolio manager, head of trading