Pine River adds ex-Amaranth man for convertible arbitrage


Pine River Capital Management is adding a senior manager to focus on its U.S. convertible bond arbitrage portfolio. Franklin Parlamis, a former managing director at Amaranth Advisors, will be trading for the firm’s high-performing Nisswa Fund, a global multistrategy arbitrage portfolio.

At Amaranth, Parlamis co-managed the convertible arbitrage and credit arbitrage portfolios. He joined Amaranth at its inception in 2001 from Paloma Partners, where he was a trader. Parlamis left Amaranth in February 2005, a tough time for the convertibles market. Amaranth, founded by Paloma alum Nick Maounis, has wound down after having suffered big losses on natural gas