Ex-SAC Manager Simonian Said to Start Stock Hedge Fund
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Charles Simonian, a former portfolio manager at SAC Capital Advisors LP’s Sigma Capital unit, plans to start a long-short equity hedge fund, according to a person with knowledge of the matter.
Simonian, 41, will open New York-based Trove Capital Management LLC in March or April, said the person, who asked not to be identified because the information isn’t public. The fund will focus on industrial, consumer, media, telecommunications and business-services stocks with market capitalizations of $1 billion or more, and its capacity for assets is at least $1 billion, the person said.