Hedge Funds

Gracie's Simonian to go it alone with long/short fund

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Charles Simonian, the second-in-command at Daniel Nir's Gracie Capital and also a veteran of Tim Barakett's Atticus Capital, is preparing to launch his own event-driven long/short equity hedge fund.

Simonian is expected to accept up to $150 million of initial capital for his Exton Capital Management, which will begin trading on February 1.

The New York-based firm will employ a broad variety of event-driven trades, focusing on special situations and catalyst-driven value plays.

Simonian began his career as an investment banker with Gleacher & Co., and after spending three years in event-driven investing, joined multi-event driven manager Gracie at its