Former Amaranth Advisors partner Manos Vourkoutiotis joins Nicholas Maounis’ Verition Fund Management
|October 20th, 2010||
|Nicholas Maounis, whose hedge fund Amaranth Advisors collapsed in 2006 with an infamous $6.6 billion in losses, has recently hired Manos Vourkoutiotis, his former colleague at the firm. According to Bloomberg, Mr. Vourkoutiotis, a former convertible-bond trader, is joining Mr. Maounis’s Verition Fund Management to oversee various strategies, including long/short equity, credit trading, volatility trading and convertible arbitrage, in the Canadian market. Mr. Maounis’s two-year-old hedge fund takes a multi-strategy approach to investing and currently oversees $250 million in assets under management.|
Mr. Vourkoutiotis is the third of four former Amaranth partners to join Verition. Amaranth, which managed by $9.5 billion in August of 2006, lost $4.6 billion in one week in September from bets on natural gas. Amaranth finished September with $6.6 billion in losses, a record at the time.
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