In today's Morning Brief:
-The downsizing trend is hitting hedge funds. Marc Lasry's Avenue Capital Group islaying off about 6.5 percentof its staff.
-Former Goldman Sachs senior traders Rishi Chadda and Cyrus Pouraghabagherwill start New York- based Kingsguard Advisors LPon Nov. 1, which will employ a global macro fixed-income strategy, with at least $50 million in initial capital from Investcorp.
-Former Deutsche Bank AG credit trader Antoine Cornutplans to start Camares Capital LLP, a hedge fund that will focus on European credit.
-A ship belonging to the Argentinian navyhas been ordered held in Ghanastemming from a dispute with hedge fund Elliott Management, which has been trying to collect on bonds it bought in 2001 when the South American nation defaulted on its bonds.