Paulson Banking Experts Plan Hedge Fund

May 21 2012 | 2:36pm ET

Two Paulson & Co. banking specialist are set to launch a financials hedge fund, despite the difficulties their portfolios have had at the New York hedge fund.

Robert Lacoursiere and James Fotheringham have founded Petrarca Capital. The two men, who joined Paulson in 2008, told potential clients in a marketing documents that they had managed about $10 billion at Paulson, which once managed almost $40 billion but now has closer to $22 billion.

It is unclear whether the dismal performance of Paulson's banking portfolio will adversely affect the new firm. According to the New York Post, Lacoursiere, who was a partner at Paulson, did not have the authority to make trading decisions.

At Paulson, Lacoursiere, the firm's highest-profile departure since Paolo Pellegrini's exit four years ago, was head of global banks. Fotheringham was a senior vice president in the banking group. Prior to joining the hedge fund, Lacoursiere and Fotheringham were U.S. mortgage and consumer finance analysts, the former at Banc of America Securities and the latter at Goldman Sachs.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

The yield curve and stock market response

Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.