Key Takeaways
- • Rokos Capital Management's macro hedge fund reportedly made money in the most recent month, while many peers faced challenging trading conditions, according to Bloomberg reporting by Nishant Kumar.
- • Chris Rokos is tripling the notice period for some investors seeking to withdraw capital from his macro fund, aligning with peers that have locked up client money.
- • Earlier reporting covered Rokos's plans to expand to Athens, with new local offices and possible staff relocations from London.
- • Millennium hired Drew Gillanders, former head of Citadel's International Equities, to lead a new equities unit, reflecting continued recruitment activity among large multi-strategy and macro managers.
Summary
Bloomberg's Nishant Kumar reports that Chris Rokos's macro hedge fund generated profits last month, a result that stands out because many competitors faced difficult trading conditions. The available material does not give the exact return for that month or the fund's current size, though a separate headline in the publisher's coverage cites a 4.2% return for Rokos in a turbulent month. Earlier Bloomberg reporting described a $17 billion fund that was up about 20% after April gains, and a later account put first-half gains at roughly 12%, with June contributing about 2.6%, according to a person familiar with the matter. These figures come from different reporting periods and should not be combined into a single performance record.
On liquidity terms, Kumar reported that Rokos is tripling the time some investors must wait to withdraw their money from the macro fund, joining other hedge funds that have locked up client capital. Earlier coverage also reported that Rokos planned to return cash to investors and cap the firm's assets at $20 billion, though the timing of that report is not specified in the source material.
Other recent moves in the sector were also reported by Kumar. Millennium and Rokos are both expanding in Athens, with plans for new local offices and possible staff relocations from London. Millennium also hired Drew Gillanders, the former head of Citadel's International Equities, to lead a new equities unit.
For background, Rokos spent years at Brevan Howard, where he reportedly generated $4 billion in profits for the main fund between 2004 and 2012 and was paid about $900 million during that period. Coverage of his later performance has included a report that he and his partners paid themselves 914 million pounds (US$1.2 billion) shortly before investors suffered a record loss year.
On liquidity terms, Kumar reported that Rokos is tripling the time some investors must wait to withdraw their money from the macro fund, joining other hedge funds that have locked up client capital. Earlier coverage also reported that Rokos planned to return cash to investors and cap the firm's assets at $20 billion, though the timing of that report is not specified in the source material.
Other recent moves in the sector were also reported by Kumar. Millennium and Rokos are both expanding in Athens, with plans for new local offices and possible staff relocations from London. Millennium also hired Drew Gillanders, the former head of Citadel's International Equities, to lead a new equities unit.
For background, Rokos spent years at Brevan Howard, where he reportedly generated $4 billion in profits for the main fund between 2004 and 2012 and was paid about $900 million during that period. Coverage of his later performance has included a report that he and his partners paid themselves 914 million pounds (US$1.2 billion) shortly before investors suffered a record loss year.
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