Pequot Capital Management has hired away Amaranth portfolio manager Morid Kamshad to start a long/short equity hedge fund focused on financials. Pequot Market Neutral Financial Services Fund utilizes a pairs strategy, investing in financial stocks and taking advantage of anomalies in valuation among similar stocks.
At Amaranth, Kamshad headed up a financials portfolio that had a strong focus on risk management and low volatility. Prior to this he was at Trident and before that he was a buyside analyst at Warburg Pincus.
Pequot is also in the market with its Diversified Strategies fund, which is designed to take advantage