Nick Maounis, the founder of Amaranth Advisors, which caved in after losing $6.6 billion in 2006, is starting a new hedge fund.
Maounis plans to open Verition Fund Management, based in Greenwich, Conn., by the end of the year, according to an investor briefed on the plan. Maounis expects to begin trading with more than $200 million, including his own capital as well as money from family, friends and others.
During the preceding months many of you have inquired as to my future plans, Maounis wrote in an email to Amaranth investors last Friday. I am ready to share the