Thursday, 21 August 2014
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note