Al Vinjamur, co-manager of a quantitative group at hedge fund manager SAC Capital Advisors in New York, has quit the firm and is preparing to launch his own hedge fund. Vinjamur confirmed having plans to launch a new fund, but declined to give further details saying that the fund's business plan has not yet been finalized. DW first reported in February that Vinjamur planned to leave SAC (DW, 2/9).
Steve Cohen, head of SAC in Stamford, Conn., did not return calls regarding Vinjamur's departure and Peter Nussbaum, legal counsel, declined comment. Vinjamur is thought to be ramping up a long/short equity fund that will employ statistical arbitrage strategies, said an official familiar with his plans. At SAC Vinjamur co-headed statistical arbitrage strategies for the firm's USD1.9 billion SAC Capital Fund.
