Launches & Closures Hedge Funds

Former Citadel vol arb chief launches his own fund


Pav Sethi, the former global head of volatility arbitrage at Citadel Investment Group, has started his own volatility-oriented hedge fund firm and reportedly plans to begin trading in June.

Gladius Investment Group will trade stocks, bonds and currencies. The firm also employs former Citadel portfolio managers Bertrand Divet and Rajesh Kedia. Sethi worked at Citadel from 2004 through 2008 and was previously a volatility portfolio manager at JD Capital Management.

Gladius is a Latin word for sword, and typically refers to the typical two-edged Roman stabbing sword carried by infantry. —JF