New hedge fund
16/06/2008
A former UBS banker has raised $300m (€193m) for a new hedge fund and has secured backing from Goldman Sachs.
Shane Finemore, who is following in the footsteps of other executives from the Swiss bank, has also secured funding for his New York-based Manikay Partners hedge fund from the family office of Frank Lowry, the chairman of Westfield Group, one of the largest retail property groups in the world, a source familiar with the hedge fund confirmed.
Goldman Sachs declined to comment. Lowry and his associates were not immediately available for comment.
Finemore is contributing $25m of his own money for the fund. He previously worked as a managing director for six years overseeing a proprietary trading unit called UBS Fundamental, the source confirmed. The fund is moving toward an August launch date.
