Reuters- Eric Rosenfeld, a co-founder of collapsed hedge fund Long-Term Capital Management, is actively recruiting investment talent for a new quantitative investment fund, a person familiar with thesituation said on Wednesday.
The fund, called Quantitative Alternatives, will employ computer-driven trading strategies, a strategy that is similar to hedge funds including Renaissance Technologies Corp., AQR Capital Management and others, this person said.
It is unclear how much money the firm has raised so far. It is also actively pursuing partnerships with banks, pension funds and other financial institutions to bolster its strategies, the source said.
Rosenfeld declined to comment through a spokesperson.
Rosenfeld was until last year president of Paloma Partners, a Greenwich, Conn.-based hedge fund group founded by veteran investor Donald Sussman. It was Sussman who provided early seed money to hedge fund entrepreneurs, including David Shaw, founder of D.E. Shaw & Co., and Nicholas Maounis, founder of Amaranth Advisors, a firm that failed last year.
