Launches & Closures Hedge Funds

Former Chesapeake execs prep long/short and event-driven strategy

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Andrew Grossman was president at the $2.5 billion firm.

Andrew Grossman and Michael Levitt, who previously worked at the $2.49 billion Baltimore firm Chesapeake Partners Management, are preparing to launch their own hedge fund by July.

Grossman began working at Chesapeake in 1997 in operations. Most recently, he was a senior trader and president. Levitt joined Chesapeake in 2005 as a research analyst. Previously, he was a corporate and securities lawyer at Paul, Weiss, Rifkind, Wharton & Garrison, and an investment banker at Deutsche Bank.

Further details could not be ascertained. Grossman and Levitt declined to comment.

Chesapeake Partners, which was founded in 1991 by husband and