Ben Steele, who joined hedge fund Armajaro Asset Management LLP last year to start a pool trading shares of financial companies, has died. He was 35.
He died on Jan. 25 of a suspected heart attack, according to Andrew Mitchell, a spokesman for the London-based firm.
Armajaro, which oversees about $2 billion, started the Global Financials fund last year to expand beyond its roots in trading commodities. The firm hired Steele and Peter Walters from asset manager TT International Ltd. (TTI) to run the pool.
Before joining Armajaro in May, Steele was co-portfolio manager of the TT Long/Short Financials fund, which posted an average gain of 9.7 percent a year since it opened in 2005, according to a marketing document for the Armajaro Global Financials fund obtained by Bloomberg News.
Steele joined TT in 2005 from Frankfurt-based Deutsche Bank AG (DBK), where he led European financials trading, according to the Armajaro prospectus. He started at Deutsche Bank in 1999 after receiving an Economics degree from England’s Durham University.
Armajaro, started in 2002 by former Phibro LLC trader Anthony Ward, has six hedge funds in addition to the financials fund. Ward, 52, oversees two pools focused on commodities such as cocoa and coffee. The company also has a fund that trades emerging-market stocks.
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