Friday, 29 August 2014
Last updated 11 hours ago
May 15 2007 | 11:07am ET
The hedge fund manager whose move to Citadel Investment Group sparked one of Daniel Loeb’s more notable outbursts is striking out on his own.
Andrew Rechtschaffen, who joined Citadel’s event-driven team 18 months ago from Greenlight Capital, is forming Obrem Capital in New York, Financial News reports. The new hedge fund will reportedly employ a long/short equity strategy.
When Rechtschaffen joined Citadel in 2005, it prompted Loeb, the founder of activist hedge fund Third Point noted for his acid tongue in dealing with management of his portfolio companies, to turn his ire on Kenneth Griffin, the founder of Citadel. In an e-mail, he warned Griffin to keep his hands off staff at Third Point and its hedge fund allies.
“Should you attempt to hire people from them I will consider it a similar act of war,” Loeb wrote, referring to Rechtschaffen’s hiring.
At press time, Rechtschaffen had not returned calls for comment.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...