Veteran Managers to Head New Hedge Fund
Adam Wolfberg, a veteran of SAC Capital Advisors, Diamondback Capital Management and the Galleon Group is teaming up with Steven Landry of East Bay Asset Management would launch a new hedge fund. This was reported by Absolute Return magazine and the hedge fund would focus on technology, media, telecommunications and leisure stocks.
The partnership is hoping to generate at least US$100 million for EastBay. The partnership with the New York based hedge fund is the second stab by Wolfberg on establishing his very own hedge fund. Back in 1996, he founded Delta Asset Management after obtaining his MBA at the University of Chicago. From there, he became portfolio manager at SAC between 2001 and 2002 and then moved on to the Galleon Group where he worked until 2004. He then worked in XI Asset Management where he met Landry before going to Diamondback in 2007.
Landry on the other hand was a stock analyst at Citigroup Asset Management before he met Wolfberg at XI in 2004. He followed Wolfberg to Diamondback in 2007.