Tidan Capital has strengthened its volatility and options arbitrage platform with the appointment of Laurent Keller as Senior Portfolio Manager. The Stockholm-based hedge fund boutique operates two dedicated vehicles within this space: a pure options volatility arbitrage fund and a sister portable alpha strategy that combines volatility relative value with equity market exposure.

Prior to joining Tidan Capital, Keller served as a quantitative portfolio manager at a large Swiss institutional investor, where he managed an equity volatility relative value book focused on parameter dislocations and dispersion strategies. He brings more than a decade of experience in equity derivatives and cross-asset quantitative investing, with particular expertise in dispersion and correlation-driven strategies. Keller’s investment approach centers on identifying supply-and-demand imbalances across equity derivative parameters, including volatility surfaces, convexity, and correlation structures, and systematically capturing relative value opportunities with asymmetric payoff profiles.

At Tidan Capital, Keller will focus on dispersion and volatility relative value strategies, further broadening the firm’s capabilities in non-directional equity derivatives trading and deepening the overall volatility platform. “Laurent adds a complementary dimension to our volatility platform. His deep expertise in dispersion and correlation dynamics strengthens our ability to capture relative value across index and single-stock options,” says Magnus Linder, Head of Volatility and Options Arbitrage at Tidan Capital. “His quantitative framework broadens our toolkit within non-directional volatility strategies.”

“Laurent adds a complementary dimension to our volatility platform. His deep expertise in dispersion and correlation dynamics strengthens our ability to capture relative value across index and single-stock options.”

Magnus Linder, Head of Volatility and Options Arbitrage at Tidan Capital.

Keller describes the move as a natural fit. “Tidan Capital’s entrepreneurial spirit and collaborative culture, combined with a clear strategic vision, made it a natural fit,” he comments on joining Stockholm-based Tidan Capital. “The firm’s commitment to building a best-in-class platform backed by state-of-the-art infrastructure and a strong team was particularly compelling,” he adds. “I look forward to working alongside Magnus and the broader team to further strengthen the volatility platform and expand into new niche opportunities.”

“I look forward to working alongside Magnus and the broader team to further strengthen the volatility platform and expand into new niche opportunities.”

Laurent Keller

Founded in 2020 by alumni of Brummer & Partners, Tidan Capital initially launched with a capital structure arbitrage strategy designed to capture inefficiencies between credit and equity markets. In recent years, the firm has onboarded experienced portfolio managers to launch a market-neutral, options-based volatility arbitrage strategy as well as a systematic macro program. Tidan also runs Confluence, a multi-strategy vehicle combining these approaches into a single portfolio designed to deliver a diversified, all-weather return profile.

Today, the boutique manages approximately $500 million in assets across these strategies. With the addition of Keller, Tidan Capital further strengthens the depth and specialization of its volatility and options arbitrage team, reinforcing its ambition to build a differentiated, institutional-grade alternatives platform.