A former top Och-Ziff Capital Management event-driven trader is set to launch a hedge fund of his own, with a little help from another former employer.
Massimo Bertoli and former Marble Bar Asset Management business chief Stephen Sales will launch an event-driven fund in the fourth quarter, Financial News reports. And they'll do it with seed capital from Goldman Sachs, where he worked before joining Och-Ziff a decade ago.
The seed funding, the amount of which is unclear, will come from Goldman Sachs Asset Management's seeding fund.
Bertoli left Och-Ziff last year. He was head of European special situations at the US$29.3 billion hedge fund.