Hedge Funds

Forstmann-Leff spin-out ramps up under new name


The long/short team led by Bill Harnisch, the former chairman and chief investment officer at Forstmann-Leff Associates, has quietly parted ways with the New York-based long-only firm and set up shop under a new name, Peconic Partners. The move to part ways with the multi-billion Forstmann-Leff allows Harnisch and his 16-member team to focus exclusively on the hedge fund side of the business. Peconic Partners manages over $500 million.

The long/short funds look at global stocks within the mid- to large-cap range and mix up shorts between fundamental positions, exchange-traded funds and futures. The portfolios are primarily 80%