Hedge Funds

Quant shop expected to close at launch despite hefty fees


Al Vinjamur and Steven Pomerantz, formerly statistical arbitrage traders with SAC Capital Advisors and New York Life, respectively, are expected to launch their new quantitative trading fund, Lotus Partners, on August 1 with $150 to $200 million.

That amount is the upper limit of what the traders want to run in their strategy, which will invest in U.S. equities, and even if they hit that target at launch, they plan to close it to all new capital. Based on early indications, the team may well have all it can handle, even though it is charging a stiff 35%