In case you needed a reminder about how incestuous the hedge fund and expert network world is, listen to this.At some point around the time that Phillipe Laffont’s $3.5 billion tech hedge fund Coatue Management came under investigation related to the insider trading case, the firm hired a new lawyer, according to Hedge Fund Alert.
And that lawyer, 38-year old Vincent Tortorella, a Dartmouth grad, came from Guidepoint Global, an expert network that’s also been tied to the investigation.
(Sidenote: if you haven’t been following along, you should know that expert networks — here’s a list of most of the big ones — are really at the centre of this whole investigation — Guidepoint is just one of many. Read more about their role here.)
Laffont is a genius for hiring this guy.
Not only has he handled the present insider trading scandal, but Tortorella is also an experienced federal prosecutor and white collar crime lawyer. (Before working at Guidepoint, he was a federal prosecutor with the U.S. Justice Department in Washington D.C., and earlier, with U.S. Attorneys Office for the Southern District of New York.)
And before that, he practiced white collar and commercial litigation at the New York office of Skadden, Arps, Slate, Meagher & Flom.
So obviously, we jump to the conclusion that Tortorella was hired because of his experience handling the investigation for Guidepoint, and his experience working inside the office of the Feds.
The work he did for Guidepoint recently had to do with a Guidepoint expert, Dr. Yves Benhamou, who was arrested in conjunction with the insider trading probe in November because he provided information about a company called Human Genome Sciences to FrontPoint’s Chip Skowrown.
As a result, Guidepoint has received a number of subpoenas. And a person familiar with Guidepoint told HFA: “[Tortorella’s] life was pretty difficult for the last three months, responding to subpoenas on one side and irate clients on the other.”
Now that Tortorella has taken on a similar role at Coatue, he will likely be the point man for the firm as it deals with its insider trading investigation.
Also interesting about Tortorella: his dad used to be a production department manager in Brooklyn for Leviton Manufacturing, a maker of electrical equipment.