Like Myron Scholes, Robert Merton and John Meriwether before him, another Long Term Capital Management alum is starting his own hedge fund. Eric Rosenfeld, one of LTCM’s co-founders is said to be forming Quantitative Alternatives LLC with two other alums of the firm, Robert Shustak and Bruce Wilson.
Rosenfeld, most recently president of
Paloma Partners LLC in Greenwich, Connecticut, reunited with Robert Shustak and
Bruce Wilson to open Quantitative Alternatives LLC, said the person, who
declined to be identified because the hedge fund isn’t trading yet. Shustak was
Long-Term Capital’s chief financial officer and Wilson was controller.“Investors are mature enough not to be
casting judgments on something that happened nine years ago in a very different
environment,” said Mathieu Klein, chief executive officer of Paris-based
investment adviser Darius Capital Partners, which isn’t investing in Rosenfeld’s
new firm. “They’ll have to prove themselves because investors have a lot of
alternatives.”
Quantitative Alternatives, based in Rye
Brook, New York, is hiring research analysts and traders who make bets on
currencies, stocks and bonds using statistical models. Trading may start later
this year, said the person, who didn’t know how much money the partners have
raised.Rosenfeld, 53, declined to comment.
Shustak, 49, most recently was chief operating officer of Strategic Value Partners LLC. The firm, which has offices in Greenwich and London and assets of more than $4 billion, was started in 2001 by former Merrill Lynch & Co. managing director Victor Khosla. At Long-Term Capital, Shustak helped develop multistrategy funds and manage firm operations.
Wilson, 46, formerly was president and chief operating officer of Greenwich-based hedge-fund manager Quantitative Financial Strategies Inc., and a managing director at Morgan Stanley.
Long-Term Capital’s Rosenfeld Opens Fund, Person Says – Bloomberg
Tags: Hedge funds, LTCM
