Ex-Shumway's Tom Wilcox Starts Hedge Fund With $150 Million

  • Family office Cider Mill started trading outside money today
  • Wilcox says his firm has $400 million in total commitments

Tom Wilcox, a former portfolio manager at Shumway Capital Partners, started trading for his new hedge fund today with $150 million in assets.

Cider Mill Investments has $400 million in total commitments, according to a letter to investors obtained by Bloomberg.

Wilcox had been managing his own money since Chris Shumway’s hedge fund returned client money in 2011. Cider Mill’s team includes former Shumway Capital employees Jeff Nykun, who serves as managing director and investment analyst, and trader Susan Suh. Ken Palumbo, a former chief operating officer at Shumway and JAT Capital, has joined the firm in that role.

A spokeswoman for Cider Mill declined to comment.

Shumway Capital was among the largest of the Tiger Cubs, the group of hedge funds managed by former employees of Julian Robertson’s Tiger Management. In a November 2010 letter, Chris Shumway told his investors that he would be stepping down from day-to-day management, appointing four partners and naming Wilcox, the former head of equities, to oversee the portfolio.

Investors had asked to redeem $3 billion of Shumway’s $8 billion after he told them of his plans to step down. In February 2011, Shumway returned the firm’s remaining $5 billion of capital to clients in order to run a family office focused on longer-term investments in anticipation of volatile markets.

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