S. Donald Sussman wins 40% stake, PAAMCO considers appeal
|October 11th, 2010||
|Pacific Alternative Asset Management Co (PAAMCO), the $9 billion fund of hedge funds manager based in California, is considering an appeal after a district court’s decision awarded hedge fund seeder S. Donald Sussman a 40% equity stake in the firm. According to the Wall Street Journal, in 2000 Mr. Sussman provided Jane Buchan, James Berens, Judy Posnikoff and William Knight with seed capital to start their fund in exchange for a promise of a 40% stake in the firm’s holding company. |
S. Donald Sussman is the President of the Paloma Funds , a multi-strategy hedge fund manager that he founded in 1981. The firm's funds employ various quantitative, relative value and computerized statistical arbitrage strategies.
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