Hyperion Capital Management has expanded its structured finance research base. The New York firm, which manages roughly $8.5 billion in fixed income, recently hired Terry Chun as an analyst in its quantitative research group, according to Greg Bordner, head of the group in New York. Chun, who started at the beginning of the month, reports to Bordner.
Hyperion added to its five-person quant team because it tends to do its own modeling and adding another professional will allow it to better evaluate structured securities and identify areas in which it may want to expand its investment or make initial forays into, he says. "Everything is highly structured and in some cases information isn't that readily available; this allows us to be more flexible," Bordner explains, noting quant work is labor-intensive in subordinate asset-backeds and collateralized debt obligations.
Chun had previously worked for a start-up company, according to Bordner. Prior to that, he worked in a quant role at Citigroup.