Hedge Fund Plan Put Off After Co-Founder Has Stroke

Dublin Hill Capital, the investment firm co-founded by Richard Ruzika, former chief of Goldman Sachs Group Inc. (GS)’s special situations group, suspended plans to start a hedge fund after Ruzika suffered a stroke.

Ruzika, 53, is in intensive care in a Connecticut hospital after the April 22 stroke, which came three days after having surgery on his left knee, Joe Howley, Ruzika’s business partner, said in a telephone interview today.

“He won’t be able to work for the immediate future,” Howley said.

Ruzika left Goldman Sachs in 2011 after almost 30 years with the New York-based bank. He was preparing to start Dublin Hill in Greenwich, Connecticut, with Howley, who previously worked at Sempra Energy (SRE) and Tudor Investment Corp., and Lance Bakrow, a former Goldman Sachs trader who ran his own firm, Greenwich Energy Solutions in Connecticut.

Ruzika joined Goldman Sachs in 1982 as a silver and gold trader and later became head of natural gas trading in 1996, according to a February 2011 memo sent to employees when he left. Ruzika was named a partner in 1998 and that year started Goldman Sachs’s electricity business before becoming head of global commodities in 2000.

In 2006 he was named co-head of global macro trading before he was picked to run Goldman’s special situations group.

Ruzika played football at Columbia University and was signed by the New York Jets in 1981 as a tight end before he decided he didn’t want to play and left training camp, according to a New York Times article at the time.

Dublin Hill had planned to trade a macro strategy, which seeks to profit from broad economic trends, with a focus on commodities, Howley said.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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