Freestone Grove Partners, a to- launch hedge fund run by Citadel alum Todd Barker, has raised $3.5bn, for what is being termed as an ‘anti-pod’ manager. Debuting in January ’24, the fund will invest across six sectors, according to a report by Bloomberg.
The report quoted people familiar with the matter as saying that Baker and co-founder Daniel Morillio are determined that the firm will be distinct from other multi-managers. According to the founders, the pod-landscape of hedge funds has grown to unwieldy, and contrast, Freestone will limit assets and have fewer pods.
The report also added that each analyst will focus on a smaller universe of stocks, and that Freestone will take a human- and computer-driven approach to trading stocks across six sectors. Each pod will run about $2 billion including leverage, and have three to four risk-takers, according to the report.
