Skip to content
Subscriber Only

Ex-Citadel, Highland Managers Start Hedge Fund With $750 Million

  • Avidity Partners is run by David Witzke and Michael Gregory
  • Hedge fund focuses on health care amid volatile environment
Pedestrians pass in front of the New York Stock Exchange.
Photographer: Michael Nagle/Bloomberg

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.