Hedge Funds

Pirate loses last salesman, sues another departee

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Pirate Capital is losing the last member of its once four-strong marketing team. Greg Teitel, director of sales, resigned from the $1.8 billion Norwalk, Conn.-based firm today.

Separately, the activist firm, which was stung by losses in its portfolio in late spring and early summer, is suing one of the four recent departees from its marketing group.

Teitel follows Andrew Stotland and Miguel Triay, who both left Pirate in late August, and J. Kerry Baldwin, who departed in early September. Those departures follow Pirate's decision to soft close its funds once they reach $2 billion in assets.

On September 6,