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. 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. 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. Its losses extended to 22% in November that year. 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. 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. During the
COVID-19 pandemic, the firm has created the Alphadyne Foundation that award grants to arts groups. == References ==