Alphadyne Asset Management

New York Hedge Fund

Alphadyne Asset Management LP

Company type| Private
Industry| Investment management
Founded| 2005; 20 years ago (2005)
Founders|

* Philippe Khuong-Huu
* Bart Broadman

Headquarters| 17 State Street, New York City, U.S.

Key people

* Joseph Regan (CEO)
* Philippe Khuong-Huu (CIO)

Products| Hedge funds
Alternative investments
AUM| US$9.1 billion (April 2023)

Number of employees

| 87 (2023)
Website| adyne.com
Footnotes / references
[1]

Alphadyne Asset Management (Alphadyne) is an American hedge fund management firm headquartered in New York City. The firm's focuses on global macro and fixed-income relative-value investing strategies.

Outside the U.S., Alphadyne has offices in London, Tokyo, Hong Kong and Singapore.

## Background

[edit]

Alphadyne was co-founded in 2005 by Philippe Khuong-Huu and Bart Broadman. Khuong-Huu was previously the head of global interest rate products group at Goldman Sachs while Broadman was vice chairman of Asia–Pacific at JPMorgan Chase. They were joined by four partners from their former firms.[2]

In October 2009, Risk magazine named Alphadyne hedge fund manager of the year for its ability to manage risk and returns during the 2008 financial crisis.[3]

In 2017, Alphadyne spun-off its Asian team into a new firm Astignes Capital that would be based in Singapore and focus on economic trends in Asia. Co-founder Broadman would move to the new firm to become its CIO.[4][5]

In August 2021, it was reported that the firm's flagship fund, Alphadyne International Master Fund lost about 10% that year due to short squeeze in the global bond market and its bad bets on rising interest rates. This came as a surprise as the fund never had an annual loss since its inception in 2006.[5] Its losses extended to 22% in November that year.[6]

In 2022, the Alphadyne Global Rates fund returned 17% for the year. The firm had increased its Asian presence with one-third of its investment team being based in Asia as part of its investment strategy.[7]

In November 2023, ransomware group LockBit claimed responsibility for hacking Alphadyne stating it had to make an unspecified payment by the deadline or it will publish the stolen data online.[8]

During the COVID-19 pandemic, the firm has created the Alphadyne Foundation that award grants to arts groups.[9]

## References

[edit]

1. ^ "Form ADV" (PDF). SEC.
2. ^ "JPMorgan, Goldman Heavyweights Team Up For Fund Launch". GlobalCapital. November 18, 2005. Retrieved February 12, 2024.
3. ^ "Hedge fund manager of the year - Risk.net". www.risk.net. October 23, 2009. Archived from the original on February 12, 2024.
4. ^ Wille, Klaus (December 1, 2016). "Alphadyne to Spin Off $2 Billion Singapore Hedge Fund Unit". Bloomberg.com. Archived from the original on October 31, 2022. Retrieved February 12, 2024.
5. ^ a b Kumar, Nishant (August 3, 2021). "Hedge Fund Alphadyne Loses $1.5 Billion in Short Squeeze". Bloomberg.com. Archived from the original on October 28, 2021. Retrieved February 12, 2024.
6. ^ Kumar, Nishant (December 2, 2021). "Alphadyne's Hedge Fund Loss Widens to 22% After November Rout". Bloomberg.com. Archived from the original on February 18, 2022. Retrieved February 12, 2024.
7. ^ Hu, Bei (April 17, 2023). "BFAM's Former Currency Volatility, Rates Head to Join Alphadyne". Bloomberg.com. Archived from the original on April 17, 2023. Retrieved February 12, 2024.
8. ^ Gallagher, Ryan (November 17, 2023). "Lockbit Gang Hacks Into Another US Financial Firm, Threatens to Dump Data". Bloomberg.com. Archived from the original on November 17, 2023. Retrieved February 12, 2024.
9. ^ Buckley, Cara (May 26, 2021). "They've Given $6 Million to the Arts. No One Knew Them, Until Now". The New York Times. Archived from the original on February 24, 2024. Retrieved February 12, 2024.

## External links

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* Official website

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Hedge funds

Investment
strategy|

| Arbitrage /
relative value|

* Capital structure arbitrage
* Convertible arbitrage
* Equity market neutral
* Fixed income arbitrage / fixed-income relative-value investing
* Statistical arbitrage
* Volatility arbitrage

|

Event-driven|

* Shareholder activism
* Distressed securities
* Risk arbitrage
* Special situation

Directional|

* Convergence trade
* Commodity trading advisors / managed futures account
* Dedicated short
* Global macro
* Long/short equity
* Trend following

Other|

* Fund of hedge funds / Multi-manager

Trading|

* Algorithmic trading
* Day trading
* High-frequency trading
* Prime brokerage
* Program trading
* Proprietary trading

Related
terms|

| Markets|

* Commodities
* Derivatives
* Equity
* Fixed income
* Foreign exchange
* Money markets
* Structured securities

|

Misc|

* Absolute return
* Arbitrage pricing theory
* Assets under management
* Black–Scholes model (Greeks: delta neutral)
* Capital asset pricing model (alpha / beta / security characteristic line)
* Fundamental analysis
* Hedge
* Securitization
* Short
* Taxation of private equity and hedge funds
* Technical analysis

Investors|

* Vulture funds
* Family offices
* Financial endowments
* Fund of hedge funds
* High-net-worth individual
* Institutional investors
* Insurance companies
* Investment banks
* Merchant banks
* Pension funds
* Sovereign wealth funds

Governance|

* Fund governance
* Standards Board for Alternative Investments
* Managed Funds Association

* Alternative investment management companies
* Hedge funds
* Hedge fund managers
* List of hedge funds

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