Saturday, 23 May 2015
Last updated 10 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…