Finance
Ex-Citadel Trader Northridge Gets $1 Billion From Marshall Wace
- Richard Northridge has started trading global cyclical stocks
- Marshall Wace’s flagship Eureka hedge fund is up 14% this year
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Richard Northridge, a former portfolio manager at Citadel, has received $1 billion from Marshall Wace to trade for its flagship hedge fund.
London-based Marshall Wace allocated the money to a global cyclical stock-trading book run by Northridge this month, according to an investor letter seen by Bloomberg. This initial backing, which is part of the firm’s main $22 billion Eureka hedge fund, will scale up as Northridge builds out his team, the firm wrote to clients.