Closing Centaurus Capital has spawned a second successor hedge fund.
Lawrence Whalley has set up a new firm called Copperwood, staffed by Centaurus alumni, which will launch its maiden fund on Aug. 1, Reuters reports. In addition to Whalley, who worked with Centaurus founder John Arnold at Enron Corp., Copperwood will feature former Centaurus CFO Jeff Brattain and trader Conrad Goerl, among other veterans of Centaurus' Houston, London and New York offices.
Copperwood will debut with about $700 million.
Arnold last month said that he would retire after a decade running Centaurus and return some $2 billion to investors. Just a week after Arnold's surprise announcement came news that Centaurus founding trader Bill Perkins would launch his own hedge fund, Skylar Capital Management, on July 1.
Houston-based Skylar is expected to debut with between $300 million and $600 million.