Citadel, Deephaven Vet Greenberg Returns After Five-Year Break

Jul 5 2013 | 10:11am ET

Andrew Greenberg, the former Citadel Investment Group and Deephaven Capital Management portfolio manager, is back in the hedge fund game.

Greenberg's AMG Capital launched its maiden hedge fund, Saker Partners, on Monday, Hedge Fund Alert reports. The fund debuted with $7.8 million from Greenberg himself and a handful of outside investors.

Saker is in effect the hedge fund version of the strategy Greenberg has deployed managing his own capital since his exit in 2008 from Deephaven. The equity-restructuring, special-situations fund opportunistic risk-arbitrage fund holds between 20 and 30 names at a time.

Greenberg, who is based in Chicago, plans to build a track record before beginning a fundraising effort.

Greenberg has been on the shelf since he left Deephaven after it liquidated his event-driven funds at the height of the financial crisis. He spent just over a year at the now-defunct firm, after a stint as co-head of Citadel's global value group.

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