Hedge Funds

Ex-Galleon man is back with XI


After departing from New York-based Galleon Group shortly after his fund posted poor returns for the month of May, Adam Wolfberg has returned to the hedge fund arena. Wolfberg has started XI Asset Management and is expected to launch a long/short equity fund in October.

The former SAC Capital Advisors portfolio manager was responsible for Galleon Explorers Offshore, a turnaround technology fund that managed $300 million in assets. Since the fund's setback in May it has been managed by Galleon founder Raj Rajaratnam, and partners Todd Deutsch and Gary Rosenbach.