Dow Kim cancels launch of Diamond Lake

August 6th, 2008
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Dow Kim, the former head of trading and investment banking, left Merrill Lynch to start Diamond Lake, a multi-strategy hedge fund. The fund would receive significant backing from his former employer. Institutions had planned to invest about $1 billion with Diamond Lake; however investors changed their minds after the troubles in the market.

Diamond Lake had hired 30 people based on the expected financial backing including David Milch the former head of prime-brokerage services at Merrill Lynch, Karl Wachter the former general counsel at Amaranth Advisors LLC, as general counsel; and Bernd Wuebben, the former head of fixed income trading strategies at Bear Stearns. Mr. Kim currently has no plans to start another fund.
For Detailed Investor Profiles on these Investors, click below:
Amaranth Advisors*
Related People: Brian Hunter*; Manos Vourkoutiotis*; Nicholas Maounis*
Related Entities: Amaranth Global Equities LLC*; Amaranth Global Securities Inc*; Amaranth International LLC; Amaranth LLC*; Paloma Securities LLC*:; Amaranth Capital Partners LLC*

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