Kenneth Tananbaum has over 35 years of experience in trading and investing, with deep experience in derivatives, convertible securities, and capital structure strategies. His work includes managing money for third party investors through multiple market cycles, including periods of market stress.
Most recently, Kenneth served as a Portfolio Manager and member of the Board of Managers at Norcap Investment Management. He co-managed absolute return hedge funds focused primarily on listed S&P 500 options and was responsible for overseeing all aspects of the firm’s operations as one of three board members. In addition, he was involved in raising new investor capital and launched a dedicated fund for European investors, leveraging long-standing institutional relationships.
Before Norcap, Kenneth founded and served as General Partner of Tugar Capital Management, where he allocated capital across strategies including convertible arbitrage, capital structure arbitrage, special situations, and hedged equity options. Under his leadership, the firm delivered consistent performance both before and after the 2008 financial crisis. He managed all investment and business decisions and led a team of five professionals.
Earlier in his career, Kenneth co-founded Arbitex Asset Management and served as Chief Investment Officer. He led a team of twelve investment professionals and was instrumental in growing assets under management from $20 million to $1.3 billion through strong performance and active engagement with U.S. and European investors. The firm’s investment approach combined convertible arbitrage with equity and fixed income strategies.
Kenneth has also held senior roles at Palisade Capital Management, where he managed dynamically hedged convertible securities portfolios, and at HBK Investments as Vice President, trading Asian convertible bonds and warrants. He began his career as an equity options market maker at O’Connor & Associates, developing deep expertise in derivatives pricing and risk management.
Kenneth holds a B.A. in Economics and Political Science from Yale University, where he wrote his senior thesis under the guidance of Nobel Laureate Robert Shiller and Yale Chief Investment Officer David Swensen.
EXPERTISE
Hedge Funds
Convertible Securities
Equity Options
Index Options
Derivatives
Convertible Arbitrage
EDUCATION
Yale University
Bachelor of Arts, Majored in Economics & Political Science
WORK HISTORY
SEDA Experts
Managing Director
2025-Current
Tugar Capital Management
General Partner & Founder
2006-Current
Norcap Investment Management
Board of Managers & Portfolio Manager
2018-2025
Palisade Capital Management
Consultant
2014-2017
Arbitex Asset Management
Chief Investment Officer
1997-2006
HBK Investments
Vice President
1994-1997
O’Connor & Associates
Market Maker
1990-1994
Trading and Investing Expert Witness
Contact
Kenneth Tananbaum
1185 Avenue of the Americas
New York, NY 10036
+1 646-626-4555


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