Saturday, 3 October 2015
Last updated 1 day ago
May 24 2011 | 1:40pm ET
The first of what are likely to be several successors to the recently-shuttered Shumway Capital Partners is in business.
Shumway veteran Paul Hudson has launched Glade Brook Capital, HFMWeek reports. Hudson was not one of the five former portfolio managers at the once-$8 billion hedge fund identified in February by Hedge Fund Alert as likely to launch their own funds.
It is unclear what strategy Glade Brook will employ or what its initial assets are, although HFMWeek reports that Hudson's former boss, Chris Shumway, might be seeding the fund. What is clear is that the new firm includes Paul Barron, formerly controller of Shumway and now Glade Brook's CFO.
Shumway, a Tiger Management veteran, decided in February to close his eponymous hedge fund, which is still being liquidated. The move followed massive redemptions in the wake of Shumway's November decision to step back from day-to-day management of the firm.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…