Ex-Maverick partner Steve Galbraith preps major launch

September 28, 2012   Rob Copeland

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Former top deputy at Lee Ainslie’s $10 billion firm already meeting with investors.


 
  
Steve Galbraith, until recently the top investment strategist at Lee Ainslie’s $10 billion Maverick Capital, is quickly readying plans for a new hedge fund to begin trading in the first half of next year, according to people familiar with his plans.

People who have spoken to Galbraith said he has expressed an interest in bringing onboard a former partner from Maverick, whose identity could not immediately be determined, to be on his team for the launch. In a brief telephone conversation with Absolute Return, Galbraith said, “I will not recruit a Maverick partner.” He declined further comment.

Likely to be based in Connecticut, the firm does not yet...

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Data

April 2013 Absolute Return fund

Composite
Index Composite
Absolute ReturnApr 13YTD%
Composite0.54%2.94%74%
Commodities-1.78%-5.50%83%
Convertible & Equity Arbitrage0.56%1.52%59%
Credit1.11%3.73%76%
Distressed1.00%5.54%64%
Event Driven0.96%4.96%80%
Fixed Income1.50%3.92%65%
Global Equity0.82%3.37%79%
Latin American Debt0.20%0.99%71%
Latin American Equity-0.10%4.01%57%
Macro0.55%2.19%67%
Managed Futures1.04%1.38%87%
Mixed Arbitrage0.25%2.35%77%
Mortgage Backed Securities1.50%4.04%100%
Multi-Strategy0.94%3.79%60%
Technology0.46%1.87%100%
U.S. Equity-0.30%3.06%72%

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