Friday, 21 October 2016
Last updated 1 hour ago
Mar 21 2012 | 1:52pm ET
Another Shumway cub is ready to launch his own hedge fund. Neil Shah, a former healthcare manager at the late Shumway Capital Partners, has founded March Altus Capital Management and should offer its maiden hedge fund later this month or in April.
Greenwich, Conn.-based March Altus is more than a year in the making; Shah was quickly reported to be planning a firm of his own after Shumway founder Chris Shumway pulled the plug on his firm last February.
While Shah focused on healthcare at Shumway, March Altus' precise strategy is unclear, HFMWeek reports.
Shah was named a member of Shumway's "internal partnership," one of the senior managers tapped to take over for the founder as he stepped away from day-to-day management. That promotion came just months before the firm's end, when investors balked at leaving their money in a Shumway-less Shumway.
March Altus is at least the fourth hedge fund to rise from Shumway's ashes. Last year, Shah's former colleagues, Paul Hudson, David Rodriguez-Fraile and Tom Wilcox, launched Glade Brook Capital, Bluemar Capital Management and Cider Mill Investments, respectively.