Ex-Citadel, Lone Pine Capital, Oaktree Capital and Paloma Partners PMs are among the hedge fund execs gearing up to launch a bumper crop of high-profile hedge funds this year, according to a report by Reuters.
The report cites information from hedge fund research firm PivotalPath and other prime broker and unnamed industry sources as confirming that up to 40 launches are expected this year from PMS who have left big-name firms.
Such launches tend to attract a lot of investor interest on the back of expectations that managers will be able to replicate their past successes.
The report quotes Jon Caplis, CEO of PivotalPath, which tracks launches through prime brokers and investor sources: “Many of these people have done extremely well and may be looking for something more independent.”
Among the 40 potential launches currently being tracked by PiviotalPath are TMT stock-focused fund Benchstone Capital Management by former Citadel PM Tommaso Trento and healthcare and industrials focused long-short equities fund Perryridge Capital by former Lone Pine Capital Partner Arthur Wit.
The highest profile launches of the year will be former Millennium Management Co-Chief Investment Officer Bobby Jain’s Jain Global, as well as spin-off firm Capula Investment Management by Partner Nat Dean, according to Reuters’s sources.
