Hedge Funds

Ex-Pirates set sail on their own ship

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Four émigrés of Pirate Capital have reunited to form their own hedge fund firm.

FrontFour Capital Partners, based in New York, began trading this month with $30 million in assets. The fund follows an event-driven strategy and invests across the corporate capital structure. FrontFour plans to launch an offshore fund on February 1.

The Pirate émigrés, and now principals of FrontFour, are Carl Klein, a former portfolio manager at Pirate, Zachary George and David Lorber, who both served as Pirate analysts, and Andrew Stotland, Pirate's former director of sales.

The new firm has been seeded by Weston-Atlas Partners, a