Fri, Apr 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Former SAC Capital executives are raising piles of cash for new hedge funds

Thursday, January 09, 2014

Komfie Manalo, Opalesque Asia:

It seems that the stigma of insider trading scandal that haunts SAC Capital has not rubbed on to many of its former executives who are now raising piles of cash with their own hedge funds, according to a CNBC report.

Jason Karp, Aaron Cowen and James "Jos" Shaver, all SAC alumni, were able to convince investors to trust them with their millions of cash and were responsible for launching the biggest hedge funds last year. The report said more money is coming way for the trio.

Sasha Jensen, founder of hedge fund-focused recruiting firm HFE Search told CNBC, "Investors know it's not fair to paint everyone from SAC with the same brush. They're much more focused on merit to figure out who is a good candidate to invest with or hire. Having SAC on your resume isn't a black mark."

Karp, who worked between 2005 to 2009 at SAC Capital’s CR Intrinsic unit as generalist portfolio manager and director of research, launched Tourbillon Capital Partners in Jan. 14, 2013 with $250m in assets. As at Jan. 1 this year, Tourbillon’s assets has ballooned to $750m with plans of adding $250m more from investors in the second quarter of 2014.

According to the report, former SAC Capital chief investment officer Cowen who worked for the firm from 2008 to 2010, launched the Suvretta Capital Management in October 2012 and generated $165m in capital as of Jan. 1. 2013. Fast forward to ......................

To view our full article Click here

Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  4. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo

  5. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an