Roughly around the time when the death knell for SAC Capital as a hedge fund (now since defunct, existing purely as a family office following the biggest insider trading crackdown against a US-based hedge fund in history) was beating loudest, SkyBridge Capital’s Anthony Scaramucci seemed unable to fathom the gross criminality at a fund in which he had invested. As the NYT then reported, “A group of Mr. Cohen’s investors continue to stand by him and hope that he stays in business. For Anthony Scaramucci, chief executive of the hedge fund firm SkyBridge Capital and a friend of Mr. Cohen’s, sticking with SAC has as much to do with friendship and loyalty as it does its superior performance. “A lot of guys, when bombs are going off, you figure out very quickly who your friends are in the trenches,” Mr. Scaramucci said. “Most friends run from bullets, but your best friends run toward them. I have enormous amount of respect for the guy, and I think he’s misunderstood.” Or in other words: simple idolatry.
As it turned out, Cohen was quite well understood by pretty much everyone else, however what was certainly misunderstood was SkyBridge’s vetting process for asset allocation in criminal entities. Which perhaps explains the relative silence by the SkyBridge Capital’s chief since the SAC crack down. However, as it turns out Scaramucci was not merely sitting on his rapidly depleting AUM (recall: Fund Of Funds Implosion Forces Conversion Of Ever More Hedge Funds Into “Long-Onlies“) – he was busy determining the next generation of financial gurus.
As revealed in today’s Forbes, which has just presented its “30 Under 30” in, among other categories, finance, it was none other than Anthony Scaramucci (alongside Accel Partners Jim Breyer which perhaps explains why one of the “chosen youts” is an Accel Partners principal… and GloCap’s Adam Zoia), who headed the “Expert Panel” to select the new generation of financial wizards. The list is, as it always is, amusing.
Let’s dig into just who “the Mooch” considers Steve Cohen-replacement worthy. Ladies first:
Tracy Britt Cool, 29, Financial assistant to the chairman, Berkshire Hathaway
Emerging as an influential figure in Warren Buffett’s organization. Chairman at Benjamin Moore, Johns Manville, Larson-Juhl and Oriental Trading. Also on the board of H.J. Heinz.
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Lucy Baldwin, 29, Managing director, Goldman Sachs
Director of Goldman’s European research management team and serving on the investment review committee. Previously headed Goldman’s European retail and consumer equity research.
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Katie Keenan, 29, Associate, Blackstone Group
A rising star in the world’s largest real estate investment management business. Helped launch Blackstone’s first mortgage lending program, which has closed $2 billion of originations in five months. Led underwriting of $1.2 billion of real estate debt investments for various Blackstone vehicles.
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Carryn McLaughlin, 29, Vice president, JPMorgan Chase
Earned CFP at 23 before moving to JPM Private Bank to manage a $2.7 billion book of biz as wealth manager for real estate moguls and their families.
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And now the guys:
Luis Alvarado, 29, Investment research analyst, Wells Fargo Private Bank
Youngest member of Wells Fargo Private Bank investment team, which decides the allocation for $170 billion in managed assets. Solely responsible for building capital market assumptions, forming the foundation of recommendations for virtually every client account.
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George Bachiashvili, 28, Founder, Georgian Co-Investment Fund
Runs a $6 billion private equity fund in Georgia that amounts to about 40% of the country’s GDP. Backed by Georgia’s own billionaire prime minister, who invested the initial $1 billion, creating some controversy around its investments in the Georgian economy. UAE’s Abu Dhabi Group and China’s Milestone International are among other big investors.
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Sam Barnett, 24, Founder, SBB Research Group
Part scientist, part mathematician, Barnett started his quant hedge fund while still a CalTech undergrad and has since grown it into a $115 million firm with 15 employees. Returns have been solid.
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Ganesh Betanabhatla, 28, Managing director, Talara Capital
Former JPMorgan oil & gas investment banker and vice president at Pine Brook Partners, now backed with up to $500 million heading Talara’s private equity efforts in the energy sector.
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Rushabh Doshi, 29, Trader, DW Investment Management
Former Morgan Stanley and Brevan Howard trader, specializing in high-yield and distressed debt at Brevan’s external credit asset manager. Born in Mumbai; spent his teens in Topeka, KS.
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Leigh Drogen, 27, Founder, Estimize
Founded company becoming popular on Wall Street by essentially crowdsourcing estimates for key data points on financial earnings releases. In an attempt to achieve greater precision, Estimize gathers information from independent, buy-side and sell-side analysts, together with those of private investors.
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Fred Ehrsam, 25, Cofounder, Coinbase
As Bitcoin gradually becomes a mainstream phenomenon, Coinbase is trying to make it easy to use. The former Goldman Sachs currency trader is attemting to build “the PayPal for Bitcoin”; Coinbase is trying to make cryptocurrency accessible to the everyday consumer and merchant. Has raised $30 million from high profile VCs like Andreessen Horowitz, making it the top-funded Bitcoin start-up.
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Eric Eisner, 29, VP, Bank of America Merrill Lynch Global Banking and Markets
Manages all Latin America low-beta sovereign debt trading for BofA Merrill. Low-beta trading was viewed as unprofitable and boring before he took over. He’s since turned it into a revenue generator for BofA trading over $30 billion in bonds and transforming the unit into a top-three top-franchise among big bank competitors.
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Stephen Ensley, 29, Principal, Hellman & Friedman
Former JPMorgan mergers & acquisitions investment banker, now a principal for one of the most well-respected private equity firms. Has helped lead portfolio investments in companies like Pharmaceutical Product Development. Sits on the board of CarProof, a Canadian vehicle history report provider.
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Brian Feinstein, 28, Partner, Bessemer Venture Partners
Started as an analyst and moved up to become the youngest partner in BVP’s 100+ year history. Now runs its Brazil and Russia investment team while also focusing on Internet and software opportunities in U.S. and Europe. Led a $10 million investment in a Brazilian mobile gaming company that’s since doubled its revenue.
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Eugene Gokhvat, 28, Portfolio manager, BlueCrest Capital Management
Worked for Boaz Weinstein on Deutsche Bank’s prop desk. Now, manages his own large corporate bond portfolio at the U.S. outpost of a $35 billion European hedge fund.
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Cameron Horwitz, 29, Research director, U.S. Capital Advisors
Heads oil & gas exploration and development research at boutique Texas financial firm. Big calls on companies like Pioneer Natural Resources helped get him singled out as a”rising star” on Institutional Investor’s influential research rankings.
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Kevin Kaiser, 26, Managing director, Hedgeye Risk Management
Has recently managed to spark the ire of two billionaires with high-profile, negative calls on two major stocks. Following his recomendation to short Kinder Morgan, CEO Richard Kinder held a conference call to dispute his allegations. His comments on Linn Energy helped provoke hedge fund manager Leon Cooperman, a major shareholder of the MLP.
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Eric Khrom, 28, Founder, Khrom Capital Management
Value investor backed by a major universtiy endowment. College dropout has posted some good returns while keeping a big chunk of his portfolio in cash. He manages some $40 million at the hedge fund he founded in 2008.
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Maximilian Kuss, 27, Founder, European Media Holding AG
Used the proceeds of a gaming company and software publisher he helped found to start European Media Holding, an investing vehicle that now manages 250 million euros and looks to merge digital technologies with “old economy” companies. In September, online tire retailer Tirendo, in which EMH was a founding shareholder, sold for 50 million euros to publicly traded Delticom, in which EMH later took a substantial equity stake.
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John Locke, 29, Principal, Accel Partners
Venture capital investor focusing recently on growth-stage investments in areas like cyber security. Previously led investments in payment companies like Braintree, which is being purchased by eBay for $800 million. Played golf at Princeton.
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Chaitanya Mehra, 28, Portfolio manager, Och-Ziff Capital Management
Former Goldman Sachs trader, now a portfolio manager focusing on energy at Dan Och’s $39 billion firm, one of the largest hedge funds in the world.
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Neil Mehta, 29, Founder, Greenoaks Capital
Former investor at D.E. Shaw, helping to open the hedge fund’s Hong Kong office. Founded Greenoaks and now manages some $600 million, investing in industries ranging from ecommerce to insurance. Hit home runs with early investments in Palantir and Coupang.
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Vivek Ramaswamy, 28, Investment analyst, QVT Financial
Co-managing one of the hedge fund industry’s largest biotech-focused portfolios for Daniel Gold’s hedge fund. Well known for successful investments in companies developing antiviral drugs, including for the treatment of hepatitis C. Got a Yale law degree while working at the hedge fund.
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Adam Rodman, 29, Founder, Segra Capital Management
Former portfolio manager at Mark Hart’s Corriente Advisors, now backed by his old boss and other Texas money men like Harlan Korenvaes in new macro hedge fund.
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Sam Shikiar, 28, Vice president, Goldman Sachs
Heads U.S. electronic commodities trading team that focuses on metals and energy options. Previously worked in the asset management division for a quant hedge fund team on the Global Alpha and Equity Opportunities Funds.
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Andrew Silverman, 28, Vice president, Goldman Sachs
Star credit derivatives and bond trader has become one of the top distressed debt market makers in the world. Recent promotion to managing director goes into effect in 2014.
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Jeffrey Sun, 29, Executive director, Morgan Stanley
Primary trader at Morgan Stanley in oil products options, managing the investment bank’s exposure to things like jet fuel and diesel. Also trades crude oil options.
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Chris Yetter, 29, Head of Latin American Investments, Falcon Edge Capital
Spearheading some very profitable investments in Latin America for $2 billion hedge fund. Former trader at QVT. Taught in Spain.
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All of the above are fine and great, with the exception of some truly bizarre head-scratchers, but the real question is where are the “5 under 5” – after all, in Bernanke’s centrally planned new normal, in which there no risk only return, the ripe retirement age for E-Trade baby whizkid traders is now the mid-to-late teens.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/6zTmHCbnt90/story01.htm Tyler Durden