Launches & Closures Hedge Funds

OSS spinout Rivulet raises $100 million, hires ex-Coatue and Atticus CFO Joe Herman


Oscar Schafer has already committed at least $25 million. Joshua Kuntz and Barry Lebovits plan to launch May 1.

  Rivulet seeder Oscar Schafer
(Photo: New York Philharmonic)
Rivulet Capital, the long/short equity firm founded early this year by O.S.S. Capital Management co-portfolio managers Barry Lebovits and Joshua Kuntz, has secured at least $100 million from former O.S.S. investors, according to a letter sent to clients, putting it on track to launch on May 1 with at least $125 million.

In November, O.S.S. founder Oscar Schafer announced he would close the eponymous long/short fund he founded in 2001 and give between $25 million and $50 million in seed money—his only seed in more than