Amit Sohal Joins North Rock Capital Management as Portfolio Manager

Amit Sohal, former Millennium money manager, has joined North Rock Capital Management as a portfolio manager. Sohal will be based in North Rock's London office, marking the latest win for the firm in the battle for hedge fund talent.

North Rock Capital Management has announced the addition of Amit Sohal to its portfolio management team. Sohal, a former Millennium money manager, will be based in North Rock's London office, strengthening the firm's presence in the hedge fund talent pool.

Sohal brings extensive experience in portfolio management and investment strategies. His appointment follows a series of high-profile hires at North Rock, which has been actively expanding its team to enhance its investment capabilities. The firm has been increasingly recognized for its ability to attract top talent from the financial industry.

In addition to Sohal's appointment, North Rock has also been making strategic investments in other areas, such as the launch of a fundamental analyst team by Qube, a $34 billion London-based quant firm. Qube has hired several analysts, including Iain Simpson, Jinesh Patel, Raghav Bardalai, Xiaorui Song, Nick Nieland, Robert Joynson, and William Stone, to manage sleeves of capital under the leadership of former Balyasny executive Stephen Irvine. This move signals Qube's entry into the fundamental stockpicking space, joining other quant firms like D.E. Shaw and Engineers Gate that have expanded into this area.

Meanwhile, Megha Engineering & Infrastructures (MEIL) is in the process of securing a significant loan from Oaktree Capital Management to facilitate a family buyout. The loan, up to Rs 10,000 crore, will be used by MEIL's managing director, PV Krishna Reddy, to acquire his uncle's 49% stake in the conglomerate. Krishna Reddy plans to complete the buyout by March 2027, utilizing the funds, potential asset sales, and IPOs. This financing line is one of the largest in recent times, and it underscores the growth and financial strength of MEIL, which has an order book of Rs 2.3 lakh crore and a 10-fold jump in revenues over the past decade.

These developments highlight the dynamic nature of the financial industry, with firms continually adapting and expanding their teams to stay competitive and capitalize on new opportunities.