Tuesday, 30 August 2016
Last updated 18 hours ago
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.