Saturday, 25 March 2017
Last updated 3 hours ago
Oct 15 2010 | 1:20pm ET
Amaranth Advisors founder Nicholas Maounis has hired a veteran of his collapsed hedge fund to run investments in Canada for his new hedge fund.
No, not that one.
Maounis’ Verition Fund Management told investors that Manos Vourkoutiotis, one of four former partners at Amaranth, will handle Canadian investments. Vourkoutiotis “will focus primarily on convertible arbitrage, credit trading, long/short equity and volatility trading within the Canadian market” for Greenwich, Conn.-based Verition, which has $250 million in assets under management, Maounis wrote.
The two-year-old firm boasts 35 employees, including three of Amaranth’s four partners. It does not feature Brian Hunter, the Canadian natural gas trader whose bets caused $6.6 billion in losses for Amaranth, sinking the hedge fund four years ago.
Verition, which employs quantitative, fixed-income and event-driven strategies, is up 4.2% this year. The fund was up 18% last year.