Morgan Slade, former head of statistical arbitrage trading for the proprietary desk at Merrill Lynch in New York, has resurfaced at Dallas-based hedge fund Carlson Capital. Slade left Merrill earlier this year when the firm ceased its statistical arbitrage desk (DW, 1/12). He joined the BBT Fund, a multi-strategy relative value fund with approximately USD2 billion in assets under management that is associated with Texan billionaire brothers Sid and Lee Bass, this year (DW, 2/16). However, he also fell victim to cuts made by this fund, which recently closed its volatility and statistical arbitrage portfolios, said officials familiar with the changes.
Carlson Capital runs USD3.1 billion in assets through its various Black Diamond funds, according to Institutional Investor's 2002 hedge fund rankings. Calls to officials at Carlson and Bass were not returned.
