Citadel Hedge Fund Alum Raises $3.5 Billion for ‘Anti-Pod’ Multimanager Firm
- Todd Barker’s new hedge fund aims to have fewer teams
- Freestone Grove Partners will invest across six stock sectors
The pod-shop structure has pushed up costs and led firms to crowd into the same trades, they found, potentially diluting returns.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Citadel veteran Todd Barker conveys a key message when meeting with prospective investors for his new hedge fund firm: We’re the anti-pod shop.
Freestone Grove Partners, which will debut in January with $3.5 billion in commitments, will be different from other multimanager firms, Barker and co-founding partner Daniel Morillo told clients, according to people familiar with the matter.