|Former SAC Capital Advisors executive, Solomon Kumin has partnered with Todd Rapp from Highfields Capital Management to launch a new hedge fund. According to an unnamed source who spoke to Bloomberg, the two will be joined by Gabriel Plotkin, once considered to be a top money manager at SAC Capital Advisors. |
New York-based Folger Hill Asset Management is expected to start trading in March with as much as $1 billion in newly raised capital. Solomon Kumin, who was the chief operating officer at SAC Capital Advisors, was never charged with any wrong doing amidst the insider trading scandal that resulted in a record fine paid to federal regulators.
If Folger Hill is able to raise $1 billion at launch, it will likely skyrocket up to a top 40 position on Hedge Tracker’s Top Emerging Manager Hedge Fund List. The Top 50 Emerging Managers on the list had another strong year, having seen their assets jump 30% through Q3.