When the legendary quant, Barry Schachter, left Moore Capital, he politely said, “I’m not sure what I’ will be doing next,” but many suspected he would go elsewhere, and they were right.
The truth is that he left Louis Moore Bacon’s shop to go to the recently launched hedge fund Woodbine Capital, we have learned.
Schachter has a reputation of starting early on at youngish hedge funds and building out their risk operations into huge successes. All of the funds he’s been at in the past – ~$12 billion SAC, ~$16 billion Moore, ~$2 billion Balyasny, ~$10 billion Caxton – are all multi-billion dollar power houses today.
Woodbine is already huge. Former Soros traders Josh Berkowitz and Marcel Kasumovich, who founded the global macro fund Woodbine in January 2009, have about $2.5 billion under management. Last we heard, they were closed to new investors.
Here’s a little background on the fund from Market Folly:
In his three years at Soros before starting Woodbine, Berkowitz returned an annual average of 34% net of fees. Woodbine is already closed to new investors as it started with $185 million and now has $2.5 billion in assets under management. Woodbine ended 2009 up 13.15%.
Maybe they’re thinking bigger? Whatever the case, Schachter is an awesome hire. For more details on him, read a quick profile by clicking here >