Two New Hedge Funds to Keep an Eye On ~ market folly

Wednesday, July 23, 2008

Two New Hedge Funds to Keep an Eye On

Saw some interesting news in Bloomberg last week regarding new funds being launched by former employees of some impressive firms. First, we have Conatus capital (ex-Lone Pine) and then there is Highliner Investment Group (ex-Citadel).

Taken from Bloomberg,

"The biggest stand-alone startup was Greenwich, Connecticut- based Conatus Capital Management LP, which raised $2.3 billion. The firm was started earlier this year by David Stemerman, 39, formerly of Stephen Mandel's Lone Pine Capital LLC. Highliner Investment Group LP in Chicago raised $1.5 billion. Highliner was founded by Anand Parekh, 35, who was previously global stock head for Ken Griffin's Citadel Investment Group LLC."

It will be interesting to see what direction these funds take and how similar their portfolios are to their previous employers. I'll keep everyone updated come the next round of hedge fund 13f's.