SAC Hires Former UBS Prop Trader

An SAC Capital Advisors subsidiary is starting a global fixed-income fund and has hired Peter Abramenko, a big shot buy-side trader previously at UBS Principal Finance, to lead the charge.

  • 24 Nov 2004
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An SAC Capital Advisors subsidiary is starting a global fixed-income fund and has hired Peter Abramenko, a big shot buy-side trader previously at UBS Principal Finance, to lead the charge. Abramenko starts this week as a managing director at Sigma Capital Management in New York, an affiliate of SAC. He left UBS this spring, where he was managing director and global head of credit trading (BW, 4/5).

Abramenko will run a "new global fixed-income portfolio and will employ a broad range of relative value and arbitrage strategies across a variety of sectors, both domestically and overseas," said Ed Tagliaferri, spokesman at SAC in New York. A fixed-income player familiar with the move said Abramenko's new business will be similar to his work at UBS except on a hedge fund platform and he is expected to run several billions of dollars. Tagliaferri declined comment on assets in the new fund and whether other hires are in the works.

SAC Capital has traditionally been more focused in equities but recently intimated it was in the market to hire a big gun to lead its fixed-income push (BW, 10/18). The hedge fund manager has roughly $4.5 billion in assets and is one of the 40 largest hedge funds in the world, according to Alpha magazine. SAC's founder, Steve Cohen, raked in $350 million last year, according to Alpha.

Abramenko's departure from UBS was a hot topic on Wall Street as his UBS account was reportedly one of the top five high-grade corporate accounts. A salesman estimated at the time of Abramenko's departure that he earned in the neighborhood of $20 million in his last year at UBS. Abramenko did not respond to a message.

  • 24 Nov 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 414,341.60 1584 9.05%
2 JPMorgan 376,530.42 1722 8.23%
3 Bank of America Merrill Lynch 357,892.56 1291 7.82%
4 Goldman Sachs 265,958.80 913 5.81%
5 Barclays 263,382.44 1050 5.75%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 44,979.63 190 6.73%
2 Deutsche Bank 37,019.66 134 5.54%
3 BNP Paribas 35,303.69 205 5.28%
4 JPMorgan 33,752.71 110 5.05%
5 Bank of America Merrill Lynch 32,865.23 106 4.91%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 22,398.41 104 8.72%
2 Morgan Stanley 18,608.72 99 7.25%
3 Citi 17,768.49 110 6.92%
4 UBS 17,372.80 70 6.77%
5 Goldman Sachs 17,228.66 97 6.71%