Photo: A Little Hope
Meet Lawrence Sapanski and Richard Schimel.After leaving SAC Capital in 2005, they co-founded DiamondBack Capital, one of the hegde funds embroiled in the huge insider trading investigation the Feds are pursuing right now.
They didn’t move far; the firm’s office in Connecticut is less than 15 miles from Cohen’s headquarters.
And we have a feeling they’re not going to be enjoying the mass of attention they’re getting at the moment.
Obviously no-one wants to be at the centre of an insider trading probe, but these guys are super private.
Unlike the CEO of Level Global, David Zanek – whose firm also got raided by the FBI yesterday and who is also a Steve Cohen protege – DiamondBack’s chiefs are not highly visible players on the Wall Street social scene.
We couldn’t even find a photo of Larry Sapanski.
But despite their best efforts, we did manage to find a few details on both men. Turns out they’re like two peas in a pod.
He is the President of a children’s charity called A Little Hope, which was established by a Wall Street friend in response to 9/11 (one of the charity’s founders, Whitney Michaels, worked for Cantor Fitzgerald).
Lawrence Sapanski also worked for Morgan Stanley and Deutsche Bank and later, SAC Capital, where he was a portfolio manager.
Another fun detail: he obviously likes music and gardening, because he and his wife sponsor the Berklee City Music Program in Boston and the New Canaan Nature centre. They have also supported Schimel’s charity.