Following in his famous father's footsteps, David Steinhardt launched his New York-based Wooster Fund three months ago. The son of legendary hedge fund manager, Michael Steinhardt, is now running his own value oriented, long/short equity hedge fund.
The Steinhardt case, however, is far from unique. Other veteran managers have seen their sons venture out of the father's shadow and into the hedge fund business to make their mark. Wayne Cooperman, son of Leon Cooperman, the chairman and proprietor of multi-billion dollar hedge fund, Omega Advisors, runs Cobalt Capital Management in New York which he founded in 1999.