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Hedge Funds Unverified First seen

Former Brevan Howard PM Sicari sued over $3.5m in unpaid profits

Wooyoung Hong, a quantitative researcher who previously worked under Robert Sicari at Brevan Howard, filed a complaint in New York State Supreme Court alleging Sicari failed to honour a compensation agreement at ThirtyPark Capital, a fund they launched after leaving Brevan Howard in 2024. Hong claims he was promised 50% of profits from certain trades and a 30% ownership stake in exchange for developing trading infrastructure and providing quantitative research support, and says he was denied up to $3.5m in trading profits and an equity stake. The report, attributed to Bloomberg, states Hong ge

Why “Unverified”

  • Reported by Hedgeweek alone, with no second source or primary confirmation yet

1 independent source group across 1 post · evidence score 48/100. How labels work

What the sources claim

  1. Hong filed a lawsuit alleging Sicari failed to honour a compensation agreement at ThirtyPark Capital.

    “filed a complaint in New York State Supreme Court alleging that Sicari failed to honour a compensation agreement”
    Hedgeweek

  2. Hong claims he was denied up to $3.5m in trading profits and an equity stake.

    “claims he was denied up to $3.5m in trading profits and an equity stake”
    Hedgeweek

  3. Hong claims he was promised 50% of profits from certain trades and a 30% ownership stake in ThirtyPark.

    “promised 50% of the profits generated from certain trades and a 30% ownership stake in ThirtyPark”
    Hedgeweek

  4. ThirtyPark Capital was launched after Hong and Sicari departed Brevan Howard in 2024.

    “a fund launched following their departures from Brevan Howard in 2024”
    Hedgeweek

  5. Hong says he generated gains through event-driven trades linked to corporate transactions including Nippon Steel's acquisition of US Steel and Chevron's takeover of Hess.

    “Hong generated substantial gains through event-driven trades linked to several major corporate transactions”
    Hedgeweek

Sources

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Summary and claims extracted by AI with prompt analyze-story@5 on 2026-10-22 08:30 UTC. Labels are computed from the sources, not by the model.