Hedge Funds

Ex-UBS prop trader maps out fund


Former head of U.S. proprietary trading at UBS Investment Bank, Shane Finemore, is planning to launch his own hedge fund this summer with between $500 million and $1 billion, according to potential investors.

Finemore founded the New York firm, Manikay Partners, in March and is expected to launch the fund in July or August. The manager, who resigned from UBS in March 2007 and was subject to a year's hiatus from investing, will run a global equity long/short and opportunistic arbitrage strategy, including merger, convertible, and credit arbitrage as well as special situation investments.

The UBS prop desk, known