Alexander Pylev, a trader at Sudostroitelny Bank, Moscow, has launched his own hedge fund management firm, HFMWeek reports. Luxembourg-based Advantage Asset Management has been set up to roll out the firm’s flagship offering, tentatively named the Advantage Foundation Fund, in the fourth quarter. Advantage’s first fund will be a global long/short strategy with exposure to Europe, the U.S. and possibly Asia. Pylev is in discussions with Axioma Solutions and Topwater Investment Management to help boost the new firm’s assets under management to an initial $100 million capacity and maybe seek a strategic partner.
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