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Opalesque Roundup: In a contrarian move, contrarian hedge fund manager Jeff Vinik re-opens fund: hedge fund news, week 02

Saturday, January 12, 2019

In the week ending January 11th 2019, investment titan Jeffrey Vinik said he is ready to manage money for outside clients again and plans to relaunch his hedge fund firm Vinik Asset Management after sitting out the last six years.

While other hedge-fund titans are quitting, Jeff Vinik is going back in. "After six years of running my own money, the fire in my belly still burns," said Vinik in a statement.

Jeff Vinik ran the fund from 1996 to 2013, but has been focusing on his ownership of the Tampa Bay Lightning and the development of Water Street Tampa for the last six years.

He said the bull could last another decade and pointed to "incredible opportunities for old-fashioned stock picking". Vinik's upbeat prediction comes despite recent concerns that one of the longest bull markets in history may finally be winding down amid expectations for cooler GDP growth and higher borrowing costs.

In new launches, Sterling Partners Quantitative Investments, an investment manager specializing in a variety of quantitative alternative investment strategies, announced the launch of its Equity Market Neutral Strategy; Former Fidelity Institutional Asset Management (FIAM) and Pioneer Investments fund manager Christopher Galizio has returned to fund management by seeding a long/short equity venture in partnership with LHA Ventures, a specialist US group and Audax Group closed its Audax Direct Lending Solutions (DLS) Fund at $1.65bn in capital commitments, exceeding its $1.25bn fundraising target.

Further in new launches, specialist fixed......................

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