Ex-Paulson Manager Greenberg Said to Get Seed Money From Ramiusby and
Ramius said to invest more than $100 million in her firm
Greenberg left Paulson & Co. this year to start Margate
Samantha Greenberg, a former partner at Paulson & Co., will receive more than $100 million in seed money from Ramius LLC to start her own hedge fund firm Margate Capital, according to people with knowledge of the matter.
Ramius, the $13.3 billion alternative investment business of Cowen Group Inc., will own a minority stake in Margate, said the people, asking not to be identified because the information is private. Greenberg will manage funds for Ramius in a separate account that follows the same strategy as her hedge fund, which will start in coming months, the people said.
Dan Gagnier, a spokesman for Ramius at Sard Verbinnen & Co., declined to comment.
Greenberg is starting Margate, a long-short equity firm, after leaving Paulson in January. She is the firm’s managing partner and chief investment officer, and will act as the sole portfolio manager. She and her team, which includes former colleagues, will focus on investing in communication, technology, media, and consumer sectors.
Greenberg focused on investing in media, cable, consumer discretionary and staples sectors from 2009 to 2016 at John Paulson’s hedge fund firm. She previously spent two years at Goldman Sachs Group Inc.’s special situations group and almost four years at Chilton Investment Co. She received her Master’s in Business Administration from Stanford University in 2003.
Brian Higgins, who worked with Greenberg at Goldman Sachs, left Weiss Multi-Strategy Advisers to join as Margate’s head trader, said the people. Rachel Obenshain, a former colleague of Greenberg’s from Chilton, resigned from Lodge Hill Capital to become head of consumer discretionary. Higgins and Obenshain declined to comment.
Last year, Ramius invested $100 million in seed capital with Nancy Davis’s Quadratic Capital Management, a derivatives-based macro strategy firm. Ramius owns 40 percent of Quadratic, according to regulatory filings.