A former portfolio manager at SAC Capital’s Sigma Capital unit is planning to start his own hedge fund.
Bloomberg reported that Charles Simonian, who left Sigma Capital in September, will launch New York-based Trove Capital Management in March or April. The new long/short equity hedge fund will focus on industrial, consumer, media, telecommunications and business-services stocks with market capitalizations of at least $1 billion.
The fund’s current capital was not disclosed, however its capacity is set at $1 billion.
Josh Fischer, a former portfolio manager at SAC will join Simonian at Trove Capital as the director or research.