Launches & Closures Hedge Funds

Falcon Edge hits $1.2 billion, rounds out team with former 360 Global, Iridian veterans

by Rob Copeland

Rick Gerson’s new fund is the second-largest launch of the year.

Falcon Edge Capital, the long-gestating hedge fund from former Blue Ridge Capital Management partner Rick Gerson, began trading this month with a team rounded out by veterans of 360 Global Capital, which liquidated in October, and Iridian Asset Management, which closed its largest hedge fund in January, according to people familiar with the fund.

Enrique “Rick” Abeyta is on board as a consultant in an investment role, his first gig since his 360 Global hedge fund liquidated. His Falcon Edge position could become permanent, according to a person familiar with the firm’s plans. Before 360, Abeyta co-founded