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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...