Steve Eisman’s top investment staffers from the now defunct FrontPoint Partners are launching their own hedge fund without the famed stock picker [via Hedge Fund Alert].
Danny Moses, Porter Collins and Vincent Daniel, who have all been working with Eisman since 2006, were widely expected to join their former boss after FrontPoint liquidated.
Instead, the trio have formed their own hedge fund Seawolf Capital.
Ed Fasano, who was the executive director for portfolio finance at FrontPoint, will also join Seawolf as the fund’s chief financial officer.
Seawolf plans to open its offices in New York on October 15.
Eisman, who is known for his early bet against subprime-mortgage bonds and is featured in Michael Lewis’ book “The Big Short,” is expected to launch a fund of his own. Details of that fund have not yet emerged, the report said.
It remains unclear as to why they all decided to go their separate ways, but once source told Hedge Fund Alert that Eisman was “becoming a more public person than they were comfortable with.”
Another hedge fund source told the news outlet “I am sure the feeling is mutual between Eisman and the colleagues who used to be on his team.”
“Both feel they can do well without the other, and both feel the other held them back for the last couple of years.”
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