David Witzke, a former money manager at Citadel, started his health-care focused hedge fund Avidity Partners Management with about $750 million in commitments, according to people familiar with the matter.
The Dallas-based firm, which was co-founded by former Highland Capital Management money manager Michael Gregory, began trading Nov. 1, said one of the people. Gregory, who oversees research at Avidity, led health care at Highland, and Witzke, the chief investment officer, ran one of the largest health-care portfolios at Citadel stock unit Surveyor Capital.
