Sat, Oct 25, 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. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t