Nick Maounis's old hedge fund might've gone under because he hired a Canadian (who failed to effectively manipulate the natural gas market) but I think this time he's got it figured out. Maounis has reportedly scored Peter Chung to run a credit book for his new venture, Connecticut-based Verition Fund Management. Chung comes from Highland Capital, and previous to that, the Carlyle Group, where he was working when he sent out that colorful email to his friends referring to himself as King Chung, and describing the apartment he was staying in while in Seoul for business thusly:
[It's a] brand new 2000 sq. foot 3 bedroom apt. with a 200 sq. foot terrace running the entire length of my apartment with a view overlooking Korea's main river and nightline. Why do I need 3 bedrooms? Good question, the main bedroom is for my queen size bed, where CHUNG is going to fuck every hot chick in Korea over the next 2 years (5 down, 1,000,000,000 left to go) the second bedroom is for my harem of chickies, and the third bedroom is for all of you fuckers when you come out to visit my ass in Korea.
We hear that while Chung is said to be a brilliant businessman who's had considerable success since being dismissed from Carlyle, it was his proven track record with the ladies that sealed the deal for Maounis, who's had some difficulties in that department since AA went under.
I know I was a stud in NYC but I pretty much get about, on average, 5-9 phone numbers a night and at least 3 hot chicks that say they want to go home with me every night I go out...what can I say...live [sic] is good...CHUNG is KING.
Obviously we're thrilled for them both, though our excitement was slightly dampened when we received an anonymous tip that Brian Hunter has been weeping audibly in his office at Peak Ridge Capital since hearing the news. Apparently Fish Boy had come to grips with the fact that Maounis wasn't going to offer him another job, but he'd been holding on to the pipe dream that he'd at least be brought back into the fold as a wingman.
Amaranth founder teams up with "King Chung" for new firm [American Madness]
Chung King [Snopes]