Amaranth's Maounis to start hedge fund Veriton

May 14th, 2008
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Nicholas Maounis ex manager of the Amaranth Advisors LLC is planning on starting a new hedge fund called Verition Fund Management LLC. Amaranth collapsed in 2006 after suffering $6.6 billion in losses. The losses came from bets made on natural gas. Brian Hunter, the largest culprit for Amaranth's collapse lost $4.6 billion in one week. Mr. Mounis has raised $200 million to fund the project in Greenwich Connecticut. As an incentive for his clients who lost money with the fall of Amaranth, investors won't pay incentive fees for 3 years. The fund's strategy will focus on quantitative, using computer models to mine out undervalued stocks, bonds and loans, and `special situations' which will focus on convertible bonds issued by companies going through transitions such as mergers.
For Detailed Investor Profiles on these Investors, click below:
Verition Fund Management LLC
Amaranth Advisors*
Related People: Brian Hunter*; John Guarnera; Manos Vourkoutiotis; Manos Vourkoutiotis*; Nicholas Maounis; Nicholas Maounis*; Steve Zheng
Related Entities: Amaranth Global Equities LLC*; Amaranth Global Securities Inc*; Amaranth International LLC; Amaranth LLC*; Paloma Securities LLC*:; Amaranth Advisors*; Amaranth Capital Partners LLC*; Verition Fund; Verition Group; Verition Multi-Strategy Fund LLC; Veriton Fund Management*


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