Highfields Risk Chief Co-Founder Of Ex-SAC Exec.’s New Firm

Jul 21 2014 | 1:37pm ET

Highfields Capital Management’s chief risk officer is the co-founder of former SAC Capital Advisors chief operating officer Solomon Kumin’s new hedge fund.

Todd Rapp will leave the Boston-based hedge fund to serve as co-founder and partner at Kumin’s unnamed firm, The Wall Street Journal reports. Kumin hopes to raise between $800 million and $1 billion for the fund, which is expected to debut later this summer.

Rapp’s departure from Highfields will come at the end of the month, Highfields told investors last week. He had worked at the firm since 2012.

Kumin is reportedly in talks with several possible partners about backing the new firm, most notably Leucadia National Corp., which may invest about $400 million.

Separately, Kumin has joined the board at Starwood Property Trust, the real-estate firm announced.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...