Diamondback set to double

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Diamondback Capital Management, the Stamford, Conn.-based $600 million firm launched in July by SAC Capital Advisors alumni Chad Loweth, Richard Schimel and Larry Sapanski, is planning to take in new capital after doubling its staff and expanding the strategies it trades.

Like so many funds, Diamondback has been waiting for bonus season to hit before starting its own hiring, hoping that free-flowing cash will loosen other firms' grips on their employees. Now, it is looking to add portfolio managers specializing in quantitative, fixed-income and event-driven strategies. Additionally, Diamondback wants to take on three to four more managers to