Hedge Funds

DB proprietary traders begin neutral credit fund

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David Hammond and Mark Tanaka, both previously at Deutsche Bank where they co-managed a $6.4 billion proprietary portfolio of corporate strategies, recently launched a market-neutral hedge fund focusing on credit-driven opportunities in the relative value and event-driven spaces.

David Hammond and Mark Tanaka

The pair have dubbed their new venture Sanno Point Capital Management and set up offices in New York. Their first fund has raised $45 million, including the first installment from their anchor investor.

The duo have also brought on board two Ph.D.-level quants and a team of technology/software architects who have designed