Hedge funds using debt-trading strategies honed on Wall
Street are expanding at a record pace as they profit from risks big banks are
no longer taking.
Case in point: BlueCrest Capital Management LLP doubled its New York staff in the
two years through December, while Pine River Capital Management LP increased
its global workforce by one-third in 2012. Hedge-fund firms are hiring from
companies such as Deutsche Bank, Barclays
and Bank of America as their credit funds have attracted $108 billion
since 2009, data compiled by Chicago-based Hedge Fund Research Inc. show….
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