New Managers February 2015

NEW LAUNCHES: New launches from new fund managers

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Ex-hedge funders striking out on their own:

Undaunted, veteran stock pickers Michael Karsch and Adam Weiss plan to launch new funds less than two years after closing their old firms, reports WSJ.com.

Michael Karsch, who wound down his $1.8 billion Karsch Capital Management LP in 2013 following a streak of disappointing returns, says his time awayâ€”during which he consulted on investments for mentor Stanley Druckenmiller and helped develop a cold-pressed juice businessâ€”honed his skills. His new firm is still unnamed.

The 47-year-old Adam Weiss decided to return because he missed investing with a team and a year spent teaching and writing got him excited about managing money again. Mr. Weiss's $6.7 billion Scout Capital Management LLC told investors last January it was closing because co-founder James Crichton wanted to continue managing money while Mr. Weiss didn't. Scout's average annualized return since its 1999 start was more than 14%. He expects to launch Stillwater Investment Management LP, a Palo Alto, Calif.-based stock hedge fund, later this year.

Jeffrey Helman and Jeffrey Hoffner, college friends and former colleagues at Scout Capital Management, are starting a stock-focused hedge fund firm called Engle Capital Management, reports Bloomberg. The New York-based firm's debut fund will wager on and against stocks. Engle, which is expected to begin trading in the second quarter, would be at least the fourth startup from alumni of Scout.

Former Lone Pine managing director Scott Phillips has announced the launch of his own hedge fund firm called ......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.