Melkman left Brevan Howard, which manages one of the largest global macro hedge funds in the world, earlier in 2016 with plans to raise $ 400 million for his own hedge fund. His New York-based fund, Light Sky Macro, will also trade global macroeconomic events.
In the months since his departure, Melkman has started adding to his team, filling the roles of chief risk officer, head of markets and head of research, according to a person familiar with the matter.
Barry Schachter has been appointed as a partner and Light Sky’s chief risk officer. Schachter has previously held similar roles at Caxton Associates, SAC Capital Advisors, Balyasny Asset Management and Moore Capital.
Joseph Mauro will join on October 1 as head of markets, having been a partner responsible for European hedge fund coverage across fixed income, emerging markets, foreign exchange, credit and commodities at Goldman Sachs, which he left earlier in 2016.
Alberto Ades has been named head of research. He has previously worked as co-head of global economics and head of global emerging markets fixed income strategy at BAML. He also held senior research positions at both Citigroup and Goldman Sachs.
Light Sky has also appointed Douglas Spiegel as its chief financial officer and chief compliance officer. He previously worked at event-driven hedge fund Realm Partners.
Melkman was a partner at Brevan Howard and a portfolio manager for its Argentina Master fund, which was opened to investors in January 2015 to take advantage of political change in the country.
A spokesman for Brevan Howard confirmed that this fund was being liquidated, with Argentina having settled a long-running legal dispute with holdout creditors. The fund returned about 18% over its lifetime.
Brevan Howard co-founder Chris Rokos successfully launched his own hedge fund, Rokos Capital Management, in September 2015. Rokos attracted £3.5 billion for his first fund and closed it shortly after, but a person familiar with the matter said he was likely to reopen it later this year.
UPDATE: This story has been updated with Mauro’s October 1 start date.