Tuesday, 31 May 2016
Last updated 3 days ago
Oct 30 2013 | 12:24pm ET
The second successor firm to the shuttered Vinik Asset Management has opened its doors.
Boston-based Shellback Capital is led by former Vinik portfolio managers Doug Gordon, Jon Hilsabeck and Don Jabro. Vinik AM founder Jeffrey Vinik, who invested $20 million in Kopernik Global Investors, the new hedge fund founded by former Vinik AM value chief David Iben, has also seeded Shellback, although the precise amount of his investment is unclear.
Shellback will employ a long/short equity strategy and will launch its maiden fund in January, Bloomberg News reports.
Gordon, Hilsabeck and Jabro each spent more than a decade at Vinik AM and managed about $1.8 billion for the firm at its peak. Vinik shut the hedge fund down in May in the face of poor performance and investor redemptions.
Shellback has 10 employees, nine of whom are Vinik AM alums, including Bradford Ali, the new firm's chief operating officer and general counsel. Ali was Vinik AM's chief compliance officer.