Moore gives Cornerstone $50m


Ron Connors, a former fixed-income strategist at Moore Capital Management, has received a $50 million investment from the Moore Group of funds, for his new hedge firm, Cornerstone Global Macro Management. The firm is running the money from Moore in a separately managed account.

Connors started Cornerstone along with Peter Madsen, a former hedge fund manager, and Lee Sachs, the former Treasury assistant secretary who sat on various risk committees that followed the Long-Term Capital Management debacle.

The Cornerstone Global Macro fund dedicates 60-75% of the portfolio to fixed-income, with the balance in currency and equity positions. The equity