Hedge Funds

Ex-PIMCO star is finally back in business

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He's back. After five long years, David Edington, the former five-star rated PIMCO mutual fund managing director, has resurfaced as a hedge fund manager. An iron-clad non-compete agreement has left this former portfolio manager, who at the height of his career managed in excess of $30 billion in institutional assets, virtually off the radar screen. Edington, who left PIMCO at the beginning of 1998, opened Rimrock Capital Management and launched his first hedge fund over three years ago. But it was only six months ago that the mutual fund legend could begin to manage assets outside his own