Hedge Funds

SAC to invest up to $50m in Fontana's firm


SAC Capital Advisors is planning to invest as much as $50 million in a new firm being started by portfolio manager Forrest Fontana, who has been running a book of financial stocks at SAC for the past three years.

Fontana Capital will be based in Boston, Mass. SAC analyst Tom Goggins will also be joining Fontana as a lead analyst on the new fund. The fund will employ a long/short equity strategy with a focus on the global financials sector.

Fontana, who lives in Boston, has been commuting to SAC Capital Advisors' offices in Stamford, Conn. for the