Hedge Funds

Highbridge veteran departs to start new firm

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Ron Resnick, a 13-year veteran of Glenn Dubin and Henry Swieca's Highbridge Capital Management, recently left to begin his own hedge fund firm.

The new firm, based in New York and called AlphaWorks, is looking to raise $10 million in operating capital to help finance initial operations.

Resnick is also seeking investment professionals as well as an initial $100 million in seed capital to fund three separate hedge fund strategies which the firm will incubate before opening to investors.

AlphaWorks also eventually plans to include in its lineup a multistrategy fund that will invest in the firm's three planned