Ex-Moore Capital Traders Launch New Fund With A MASSIVE Seed Investment From Louis Bacon

louis bacon moore

Photo: turtletrader.com

Last year, billionaire hedge fund titan Louis Bacon, the founder of Moore Capital Management, invested $800 million in a hedge fund started by two of his fund’s former traders, Bloomberg News reported citing unnamed sources.That’s a heck of a lot of seed capital!

According to Bloomberg, Moore’s $800 million went to macro hedge fund Stone Milliner Asset Management, which was founded by Jens-Peter Stein and Kornelius Klobucar. 

It’s not surprising because Moore has a history of investing in his former traders’ funds.  What’s more is these two produced average returns of 8% at Moore Capital from 2006 to 2011, sources told Bloomberg.

Stone Milliner started trading last month with more than $1 billion AUM, the report said.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.