Steve Cohen's Brother-In-Law's New Hedge Fund Will Be Up-And-Running By The Time You Get Your Last SAC Redemption Checks


You can just forward them straight to Sterling Ridge Capital Management, New York, N.Y.

Richard Schimel will launch a new hedge fund later this year, less than 12 months after closing Diamondback Capital in the wake of the U.S. government's insider-trading investigation.

"The investment model at Sterling Ridge will focus on a single integrated portfolio that I will manage, similar to what I did in the main portfolio at Diamondback," Schimel wrote in a letter to potential investors on Tuesday. He wrote that he is excited about the launch in the fourth quarter.

Co-founder of defunct hedge fund Diamondback launches new firm [Reuters]

Earlier: Guy Who Married Steve Cohen's Sister And Once Worked For Him Almost Ready To Manage Your Money Again