Bloomberg News

Capula Said to Hire Heanly From Angelo Gordon to Trade Debt

September 11, 2012

Capula Investment Management LLP hired Steven Heanly, a managing director at Angelo Gordon & Co., as the $13 billion hedge fund adds to a team of traders buying distressed assets in Europe, according to a person familiar with the matter.

Heanly joined London-based Capula yesterday as a senior portfolio manager, said the person, who asked not to be identified because the firm is private. He will work with Steven Zander, a former global co-head of loan and distressed debt trading at Bank of America Corp. that Capula hired in June.

Hedge funds and private-equity firms have raised about 60 billion euros ($77 billion) to target assets that may be sold by European banks facing stiffer regulatory capital requirements, according to PricewaterhouseCoopers LLP. Capula is among firms including Apollo Global Management LLC (APO:US) and Marathon Asset Management LP that have started such funds focused on Europe.

Capula spokesman Jonathan Gasthalter declined to comment. Garrett Walls, a managing director at Angelo Gordon, didn’t return a telephone call seeking comment. Heanly wasn’t available for comment.

Heanly was head of European special situations investing for Angelo Gordon, the $25 billion New York-based investment firm started by John Angelo and Michael Gordon.

Capula, founded in 2005 by former JPMorgan Chase & Co. (JPM:US) trader Yan Huo, primarily makes so-called relative value trades in government bonds, currencies and other assets. Relative value investing involves spotting situations in which two securities trade outside their normal range and then wagering that the discrepancy will fade over time.

To contact the reporter on this story: Jesse Westbrook in London at jwestbrook1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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Companies Mentioned

  • APO
    (Apollo Global Management LLC)
    • $22.74 USD
    • 0.72
    • 3.17%
  • JPM
    (JPMorgan Chase & Co)
    • $56.63 USD
    • 0.43
    • 0.76%
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