Lone Pine Alum Phillips Said to Start Latimer Hedge Fund

Scott Phillips, who spent almost a decade working at Stephen Mandel’s Lone Pine Capital, is joining a small group of managers who have recently left the industry’s most successful hedge funds to run their own firms.

Phillips, 35, a former managing director at Lone Pine, is starting Latimer Light Capital to make bets on and against stocks of primarily U.S. companies, according to two people with knowledge of his plans who asked not to be named because the information is private. The firm will begin trading in the second half of this year.