Galleon launches Buccaneer

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Galleon Management was set to launch its most aggressive technology strategy yet in early June. Setting the course and direction of the new Buccaneer Fund will be a team led by Galleon principals Raj Rajaratnam and Gary Rosenbach.

The long/short Buccaneer fund is expected to feature an active trading style that will mean a bit more turnover than in some of Galleon's existing tech portfolios. Another difference is that Galleon is likely to keep a tight lid on assets, relative to the firm's other funds, ensuring the strategy remains highly nimble.

The $3 billion hedge fund group's flagship strategy is