The PioneerPath spinoff, the first to be seeded by Citadel, will invest primarily in energy stocks.
Citadel plans to seed one of its PioneerPath portfolio managers, Todd Kantor, with $100 million when he launches energy-focused equity shop Encompass Capital, according to marketing materials.
|Encompass is still based out of PioneerPath's New York office inside the former Citi tower
Encompass is expected to begin trading its maiden long/short fund in the first quarter of 2012 with Kantor as portfolio manager and at least four analysts— Holt Calhoon, Peter Chidyllo, Michael Jacobs and Jeremy Sussman—from PioneerPath. The firm also employs chief financial and operations officer Larry Kassman, who was formerly the