Saturday, 27 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.