Ex-SAC, Diamondback Portfolio Manager Plans Hedge Fund

Feb 22 2013 | 1:52pm ET

A veteran of SAC Capital Advisors, Diamondback Capital Management and Galleon Group is set to launch a new hedge fund with his longtime partner.

Adam Wolfberg and Steven Landry's EastBay Asset Management will debut in April, Absolute Return magazine reports. The fund will focus on technology, media, telecommunications and leisure stocks.

Wolfberg and Landry hope to raise at least $100 million for the New York-based EastBay at inception.

EastBay is Wolfburg's second go at a hedge fund of his own. He launched Delta Asset Management in his Manhattan apartment in 1996, just after getting his MBA at the University of Chicago. He was a portfolio manager at SAC from 2001 to 2002, and then went to Galleon, where he worked from 2002 through 2004. He then did three years at XI Asset Management, where he first worked with Landry, before moving to Diamondback in 2007.

Landry was a stock analyst at Citigroup Asset Management before joining XI in 2004, moving with Wolfberg to Diamondback three years later. According to his LinkedIn profile, he is now a principal at Bayview Advisors and a managing partner at Backspin Ventures.

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