A hedge fund manager at Lee Ainslie’s Maverick Capital is planning to set up his own firm.
Reuters reported that Michael Pausic, who heads the media and telecommunications investments at Maverick, will receive “a significant investment” from Maverick partners to seed his new venture.
The article said that Pausic will launch his new firm in Virginia. Pausic’s departure was announced to Maverick employees earlier this week and top investors are currently being notified.
Pausic, who went to the University of Virginia with Maverick founder Ainslie, joined New York-based Maverick in 1997. Founded in 1993, Maverick manages approximately $9 billion in assets.