Monday, 24 November 2014
Last updated 53 min ago
Jan 17 2012 | 1:33pm ET
A former top Citadel Investment Group portfolio manager is readying a new industrials and energy hedge fund.
Robert Polak has founded Anchor Bolt Capital in Chicago. The new firm will invest in capital equipment, basic materials, energy and transportation stocks, Bloomberg News reports. Anchor Bolt's long book will be concentrated, with between 15 to 20 names. The rest of the 50 to 80 positions will be in the short book.
Polak will seed the fund with an undisclosed amount of his own capital. It is expected to launch this quarter.
Polak led Citadel's global industrials team from 2005 to 2010, managing about $3 billion. Prior to joining Citadel, he worked at Copper Arch Capital, NWQ Investment Management and Salomon Brothers. Anchor Bolt CFO Sean Stephens formerly worked at Aragon Global Management.
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