Shumway Seeds Two Protégés' Hedge Funds With $200M

May 27 2011 | 12:04pm ET

Tiger Management veteran Chris Shumway is following in his old boss' footsteps with a pair of seed investments in hedge funds founded by former managers at his Shumway Capital Partners.

Shumway has seeded Glade Brook Capital Partners and Trend Capital with $100 million each, Bloomberg News reports. The two funds, to launch later this year, are among a half-dozen or so new hedge funds expected to be born of Shumway's decision in February to close his once-$8 billion hedge fund.

Trend Capital is the brainchild of former Shumway head macro trader Ashwin Vasan. The macro fund should launch in August.

Glade Brook was founded by former stock manager Paul Hudson and will launch in October.

Both funds are based in Greenwich, Conn., and both Vasan and Hudson have hired their former teams at Shumway.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...