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Hedge-Fund Veteran Who Won Big on Volatility Is Back in the Game

  • Stephen Diggle hires Gavin Gilbert as CIO of Kit Trading
  • Kit plans to expand to $350 million in assets by end of 2019
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Stephen Diggle, the executive who made more than $2.5 billion on volatility wagers during the global financial crisis, is getting back into the hedge-fund game.

Eight years after Artradis Fund Management returned money to investors, Diggle has hired fellow veteran Gavin Gilbert as chief investment officer of Kit Trading Fund, a $10 million vehicle that currently manages money for his family office, Vulpes Investment Management, and other wealthy clans. By bringing in outside institutional investors, the pair plan to expand Kit to as much as $350 million by the end of 2019, and possibly more if extra traders are hired.