FrontPoint Partners Basically Just A Bunch Of Guys Hanging Around Shooting The Shit Now

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That may change though, after their chairs and desks are sold.

It’s lights out for FrontPoint Partners. The hedge fund giant, which has been slowly collapsing under the weight of an insider-trading scandal, is losing its last money maker, Stephen Czech, The Post has learned. Czech plans to set up his own shop, Czech Asset Management, next month, just to the north of FrontPoint’s current digs, sources said. Expected to go with him are about a dozen employees and the $1.1 billion direct-lending fund he helped FrontPoint launch earlier this year. That would leave FrontPoint, which managed $6.5 billion last year, with no assets and just a handful of employees, sources said. Things are so dire the firm has been auctioning off the furniture, said a person with knowledge of the situation. Dan Waters, FrontPoint’s co-CEO, didn’t return a request for comment.

[NYP]

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