ex-Pirate’s Launch new Hedge Fund

HedgeCo.Net (New York) – Two former analysts and a portfolio manager from activist hedge fund Pirate capital have joined a new hedge fund started byanother ex-Pirate colleague. Andrew Stotland, a former marketer at Tom Hudson’s Pirate Capital, formed FrontFour Capital Group and launched the event-driven fund at the beginning of the month.

Zachary George and David Lorber, former analysts at Pirate, and Carl Klein, the firm’s former fixed income portfolio manager, have now joined FrontFour Capital Management. The new hedge fund isexpected to launch in the coming months. Its seed investment came from Weston-Atlas Partners, a joint venture between London-based alternative asset management firm Atlas capital Group and WestonCapital.

“New York-based FrontFour employs an event-driven strategy, investing across the capital structure, pairing fundamental analysis with the identification of specific catalysts,” Stotland said. He leftPirate Capital in August. He was responsible for raising the majority of the firms assets. George, Lorber and Klein were part of a group of staff members that left Pirate in September. They departedjust as Pirate saw its performance fall below its historically high returns and the firm closed its funds to new investors so that it could control its overall growth. They are now principals at thenew hedge fund.

Stotland was the last of the four marketers from Pirate to find a new venture after departing the firm last summer. Miguel Triay went to New York-based Argonaut Capital Management, which runs globalmacro funds. Kerry Baldwin went to Brian Lippey’s Connecticut-based Trigram Capital Management, which runs an Asia fund. Meanwhile, Gregory Teitel went to Florida-based fund of hedge funds CrystalAdvisors.

Alex Akesson
Contributing Writer
HedgeCo.Net
Email: [email protected]