Hedge Funds

Tribeca alum begins trading TMT vehicle

by

Sam Barai, an alumnus of Citi's now-defunct Tribeca Global Management, has begun trading a technology, media and telecom long/short equity vehicle. The fund, which was launched on April 2 into a volatile market, is running just under $100 million, with Protégé Partners as a strategic investor.

Formed in January, Barai Capital Management will base its positions on fundamental research.

At Tribeca, Barai was a managing director and senior portfolio manager for Tribeca Technology Fund, a $250 million long/short equity portfolio introduced in July 2005. Over its roughly two-year life, that fund posted gross annualized returns of 26%. Citi shut