Hedge Funds

Pequot plans multi-strategy and quantitative funds

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In its latest move to develop what has become one of the industry's most diversified multi-product platforms, Pequot Capital Management is preparing to launch a quantitative fund and another new vehicle that will wrap several of its products into a multi-strategy offering.

Founder Art Samberg announced his plans last month in a letter sent to investors in the $6 billion, Westport, Connecticut operation.

At the same time, Pequot disclosed its hire of Ramu Thiagarajan and Michael Takata, who joined from Mellon Capital Management and Ulysses Management, respectively. Thiagarajan, a principal, will develop and run the quantitative fund, while