The fraternity of former Goldman Sachs proprietary traders now running their own hedge funds gained another member last month with the launch of Joseph "Jody" LaNasa's Serengeti Asset Management.
The event-driven, multistrategy operation is understood to have started trading in September with nearly $400 million. The sum made it one of the year's larger new launches, but far from the largest, which was Carlyle Bluewave, a multistrategy fund that pulled in $2 billion.
Prior to founding New York-based Serengeti, LaNasa headed a $4.5 billion multistrategy investing business within Goldman's vaunted special situations group. He took over the multistrategy