Hedge Funds People Moves

Reeling Sursum loses staff


After a high profile launch, SAC vet Paul Orwicz has performed poorly and lost investors; other firms are taking advantage.

  Paul Orwicz races his Porsche in a 2006 Mid-Ohio Sports Car Course event (Photo: Eric Gilbert/Motorsport.com)
Paul Orwicz’s Sursum Capital Management, the much-ballyhooed long/short equity firm he launched with other émigrés of SAC Capital Advisors last year, has suffered a sharp reversal of fortune as speedy as its initial success. With assets dropping significantly following double-digit losses, Sursum’s problems have turned into a boon for others, with several key staffers departing to fast-growing firms.

Sursum recently lost senior analyst Paul Kim—one of Orwicz’s core, three person team at SAC—to