Maverick's Pausic Plans Hedge Fund

Apr 4 2013 | 11:23am ET

Maverick Capital's top media and telecommunications manager will leave the firm to launch a hedge fund of his own.

Michael Pausic has returned to Charlottesville, Va.—where he met Maverick founder Lee Ainslie at the University of Virginia—to start the new firm. While he'll resign his partnership at Maverick, Pausic will remain close to his employer of 16 years, with other Maverick partners making a significant investment in Pausic's new endeavor.

The new hedge fund will see Pausic expand his remit from media and telecomm, Reuters reports.

Pausic has been considering the launch of his own firm for about a year. Maverick's employees were told of the move this week, and the firm is in the process of notifying investors.

Maverick, which has 14 partners, has long been known for a low turnover rate. But Pausic's exit will be the third by a partner in the last two years, following the exits of Steve Galbraith and Gunnar Overstrom last year.

Both Galbraith and Overstrom are working on new hedge funds. Galbraith, Maverick's former chief macroeconomic strategist, is seeking several hundred million dollars for his Herring Creek Capital, while Overstrom is fundraising for his Three Corner Global.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of