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U.S. hedge funds swoop on traders at struggling Europe startups

Bloomberg News - U.S. hedge funds Pine River Capital Management, Millennium Management and SAC Capital Advisors are taking advantage of the struggle of European startup funds to grab their pick of the region’s traders.

The three firms, which manage a combined $46 billion, have over the past year all hired employees from hedge funds started by former European bankers, according to regulatory records and people with knowledge of the matter. They joined from firms including Edoma Partners, Occitan Capital Partners and Portman Square Capital, London hedge funds that have either shut down, posted losses or failed to meet their fundraising goals, said the people, who declined to be identified because the companies are private.

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