Hedge Funds People Moves

Co-founder Chad Loweth leaves Diamondback

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Loweth cofounded the $4.6 billion multistrategy hedge fund in 2005 alongside two other alumni of SAC Capital Advisors.

Chad Loweth, one of the founders of $4.6 billion Diamondback Capital Partners, has left the firm, according to investors. The firm announced the departure last night and said it was amicable.

Loweth cofounded the multistrategy hedge fund in 2005 alongside two other alumni of SAC Capital Advisors, Larry Sapanski and Richard Schimel. Loweth and Sapanski, who worked together at Morgan Stanley, are also brothers-in-law who have known each other since high school.

Loweth’s role was administrative, while his partners handled the investment side of the business, according to investors. A call to Diamondback was not returned. Loweth could not