SAC Capital and Pequot veterans launch Bronson Point hedge fund

December 10th, 2009
| More
Larry Foley and Paul Farrell, two seasoned hedge fund veterans are planning to launch Bronson Point Partners’ flagship fund in January of 2010. Foley was a senior portfolio manager at Steven Cohen’s SAC Capital from 1994 to 2008, while Farrell was on the executive committee at Art Samberg’s Pequot Capital Management, where he co-managed Pequot’s Scout Fund Group.

According to Reuters, despite the strong pedigrees of its founders, raising capital now may be difficult for Bronson Partners. SAC Capital and Pequot Capital have traditionally been two of the industry’s most prominent names. Although, the Pequot name lost significant luster when it was forced to shut-down earlier this amidst a lengthy SEC investigations.

Bronson Point’s principals, Foley and Farrell, have committed to investing at least $25 million of their own money into the new firm. Bronson Point will invest in US securities employing a long/short equity strategy. Depending on the length of time that investors are willing to lock their money into the fund, they will be charged between 17% and 20% performance fees ,as well as the industry norm 2% annual management fee.
For Detailed Investor Profiles on these Investors, click below:
Pequot Capital Management*
SAC Capital Advisors
Bronson Point Partners
Related People: Art Samberg; Dan Benton*; Jonathan Marcus; Larry Foley; Paul Farrell; Steven A. Cohen
Related Entities: Bronson Point Partners LLC; Canvas Capital; CR Intrinsic Investors; Dawson-Herman Capital Management*; Pangaea Capital Management; Pequot Capital Core Fund*; Pequot Matawin Hedge Fund; Pequot Special Opportunities; S.A.C. Global Investors; SAC Capital Associates; SAC Meridian; SAC MultiQuant; SAC Select; Sigma Capital Management; Walter Capital Management*; Willow Creek Capital*
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

Add a Comment

More Recent Headlines

Sparx Group looks to raise $200 Million for “Green” focused Sparx Ecology Fund

Marshall Wace's Japan fund outperforms despite difficult market

Gartmore Investment Management’s IPO is fully covered at £400m

Bill Ackman has positive outlook for his Pershing Square Capital hedge fund

Changing Role of the Fund Administrator as Hedge Funds Face New Regulations

Golden windfall for John Paulson

$75 Million Fraud: SEC Freezes assets of Canopy Financial Co-Founder

Harbinger Capital cuts New York Times stake again

SkyBridge Capital’s Anthony Scaramucci discusses Seed Capital for Hedge Funds

Stark veterans launch Asia-focused Orchard Capital with $1.5 billion