Hedge Funds

Fixed-income guru Fishman spins out of SAC

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Fixed-income guru Mark Fishman, who has spent the last six years running a private fund for SAC Capital Advisors' Steve Cohen, is breaking out of the firm to form his own shop. Fishman has teamed up with Sal Naro, the former co-head of global fixed-income at UBS Investment Bank, and former colleague, Lisa Sheppard, a senior portfolio manager on the SAC Genesis Fund. The trio have formed Sailfish Capital Partners and expect to launch a multi-strategy fixed-income fund August 1, although there is speculation that Fishman may close the fund earlier due to oversubscriptions.