Caxton Associates

Caxton Associates was founded in 1983 by Bruce Kovner and has developed into a global macro investment firm. Its investment process combines macroeconomic analysis with market technicals, politics and policy, and company-level research.

The firm trades across liquid asset classes, including rates, currencies, commodities, equities, credit and derivatives, through discretionary and quantitatively driven strategies. Caxton's stated objective is to generate consistent absolute returns across different market environments, with disciplined risk management central to the approach.

For students, Caxton is notable for its focused investment culture and direct exposure to hedge-fund work. Its careers platform highlights a 10-week summer internship and an Associate Portfolio Manager programme that has supplied approximately one-quarter of the firm's current portfolio managers.