Monday, 20 February 2017
Last updated 2 days ago
Feb 6 2013 | 2:24pm ET
Former Maverick Capital chief macroeconomic strategist Steve Galbraith is set to launch a hedge fund this year.
Galbraith has founded Herring Creek Capital in Stamford, Conn. He's expected to raise several hundred million dollars for the new firm, the Connecticut Post reports.
Herring Creek recently rented 7,300 square feet at Stamford's Metro Center and will occupy it beginning in April. A neighbor will be hedge fund Lutetium Capital.
Galbraith left Maverick in September after eight years. He worked closely with firm founder Lee Ainslie during his stint at the hedge fund, which was preceded by service as Morgan Stanley's chief investment officer and chief U.S. investment strategist. He also serves on the U.S. Treasury Department's Financial Research Advisory Committee.
"He's been in business a long time. He'll have a good following," Sandy Gross of executive search firm Pinetum Partners told the Post. Gross added that Galbraith enjoys a "buyer's market" as he searches for staff for his new operation.
New landlord Jeffrey Newman of Malkin Properties was also impressed.
"This guy is very well-regarded," he said. "He has impressive credentials."