Steven Cho, a former partner in Goldman Sachs’ currency trading business, is set to start a new hedge fund, according to news reports.
Bloomberg reports that Cho plans to launch a macro hedge fund, a strategy attracting investors seeking to profit from diverging global economic trends. The report says that the new fund will be called Kings Peak Asset Management, based in New York and is scheduled to start in the fourth quarter, citing sources “with knowledge of his plans”.
Cho could not be reached for comment and Goldman Sachs declined to comment on this news.
Profit & Loss reported in February (Squawkbox, 6 February) that Cho had decided to leave Goldman Sachs, where he had worked since 1996.