Galleon Co-Founder Goes Cowboy

Apr 30 2013 | 9:44am ET

If one's last job in the hedge fund industry was "co-founder of Galleon Group," a desire to get as far away from Wall Street as possible is understandable.

Gary Rosenbach has gotten about as far away from Wall Street as possible.

Rosenbach, who set up Galleon with Raj Rajaratnam and served as the now-convicted and jailed insider-trader's deputy, dropped off the radar screen after Galleon went under in 2009. But he recently won the National Cutting Horse Association Super Stakes Derby Amateur Championship in Fort Worth, Texas, The New York Times reports.

What is cutting, you ask? It is apparently the art of separating a single calf from a cattle herd.

Rosenbach was interview after his victory, which netted him $5,138 in prize money (the video is available on YouTube). Rosenbach, who made tens of millions of dollars during his time at Galleon, modestly told the reporter, "You know, I don't want to sound terrible; it wasn't about the money. It's about the buckle, it's about the saddle, it's about the exciting feeling, the adrenaline rush of when you finish and you put your hand down and you're done cutting."

The New York native is the owner of the Rose Valley Ranch in Weatherford, Texas, which bills itself as "the cutting horse capital of the world."

Rosenbach was never charged with any wrongdoing in the Galleon fraud, although his name has come up in the probe and at several Galleon trials. He left the hedge fund several months before Rajaratnam's arrest, citing his health, and was reported to be planning a comeback in 2011.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.