Hedge Funds

Shumway's Cain to launch macro shop

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Steve Cain, formerly of Shumway Capital, is planning to launch a new macro fund that is attracting considerable investor interest and may start with over $500 million.

The company is called Nylon Capital Management, reflecting the fact that the firm will straddle the Atlantic with trading operations in New York and London. It is expected to launch later this year or even early next year.

The strategy will have a macro-based approach focusing on currency and fixed income instruments, which is part of the strategy employed by Shumway Capital, run by Tiger cub, Chris Shumway. The other strategy employed by