A trio of former money managers at Vinik Asset Management has opened their own hedge fund firm.
Bloomberg reported that Doug Gordon, Jon Hilsabeck and Don Jabro launched Shellback Capital following Vinik Asset’s closure earlier this year after founder Jeffrey Vinik decided return external capital in order to focus on his charitable foundation and the Tampa Bay Lightning, the professional hockey team he owns.
Boston-based Shellback, which will bet on and against U.S. stocks, is backed by an undisclosed amount from Vinik.
Gordon, Hilsabeck and Jabro managed a total of about $1.8 billion at their peak for Vinik Asset.
Vinik recently made a $20 million seed capital toward Kopernik Global Investors, the Florida-based investment firm founded by his former stock picker David Iben, according to an earlier eVestment article.