(Bloomberg) Ben Melkman, a former partner at Brevan Howard Asset Management, is receiving capital from billionaire Steven A. Cohen for the hedge fund he plans to start next month with more than $400 million under management, according to people with knowledge of the matter.
Cohen, whose former hedge fund SAC Capital Advisors racked up annual returns averaging 30 percent before before the firm pleaded guilty to securities fraud in 2013, is providing an anchor investment to Light Sky Macro, said the people, who asked not to be identified because the matter is private.
