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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note