Hedge Funds

Alum of Greenlight and Citadel plans long/short value fund


Andrew Rechtschaffen, the portfolio manager whose hiring by Citadel Investment Group in 2005 inspired Third Point Capital's Dan Loeb to accuse Citadel founder Ken Griffin of committing an "act of war," will start his own firm in January.

A widely forwarded e-mail message in which Loeb warned Griffin against poaching any more of his employees or those of his friends (Citadel had actually hired Rechtschaffen away from David Einhorn's Greenlight Capital Manage-ment) was vintage Loeb drama.

But the message also put Rechtschaffen, who had been a relatively unknown managing member and analyst at the highly regarded but low