Kenny Lissak, a former partner of SAC Capital Advisors founder Steve Cohen, is making a comeback after a three-year hiatus. He plans to launch a similar equity hedge fund this summer and is charging SAC-like fees of 2% of assets and 35% of performance.
Lissak was a founding partner of SAC, and he and Cohen were best men at each other's weddings. A personal falling out is said to have caused Cohen to fire Lissak in 1997. The next year, Lissak and fellow SAC alum Adam Sender formed what is now known as Exis