Wednesday, 24 August 2016
Last updated 18 hours ago
Jul 16 2013 | 4:53am ET
A former portfolio manager at Weintraub Capital Management has set up his own shop and plans to launch a healthcare focused hedge fund on Oct. 1.
John Rende, who managed Weintraub’s portfolio for 13 years, founded Copernicus Capital Management earlier this year. According to Hedgetracker, the new firm—which is based in San Francisco—hopes to launch with $50 million.
Rende spent 16 years at Weintraub Capital. Before that, he served as vice president in Wells Fargo’s asset management group.
Last year Weintraub Capital—which at one time managed over $2 billion—wound down its operations and returned outside money to investors in order to become a family office to manage founder Jerry Weintraub's millions. During its 20 years in existence, Weintraub Capital posted only two losing years.