02/10/2010

Ex-SAC Fund-Raising Chief Lands at Visium

Jason Huemer, who helped SAC Capital raise $6 billion as the firm's head of marketing, has joined Visium Asset Management to lead an expansion of the healthcare-focused firm.

Visium, a New York fund operator with $1.6 billion under management, named Huemer president last month. One of his first tasks: rolling out a multi-strategy fund on March 1. The vehicle currently runs $100 million for Visium's partners. March 1 also is the date that the firm's flagship Visium Balanced Fund, a $1.5 billion long/short equity vehicle, will stop accepting new investments.

The multi-strategy vehicle, Visium Global Fund, has portfolio managers running long/short equity strategies in several sectors. It also makes distressed-company investments and quantitative-equity plays.

The fund manager is expected to hire additional portfolio managers in the near future. Visium currently has about 25 investment staffers.

The firm also manages a $30 million credit healthcare vehicle, Visium Credit Opportunities Fund, that launched in May 2009. It gained 19.9% through yearend.

Huemer joined Steve Cohen's SAC as head of marketing and investor relations in 2005, when the firm was reopening to outside investors after 6-7 years. Under Huemer, SAC's marketing team raised $6 billion for the flagship SAC Capital fund and SAC Multi-Strategy Fund. Today, SAC has about $13 billion under management overall.

Huemer also worked for one year as chief operating officer of SAC unit Sigma Capital, even as he continued to oversee SAC's marketing efforts. He left the Stamford, Conn., firm in January 2009 to join Atlas Capital, a White Plains, N.Y., global-macro and emerging-markets hedge fund shop. Huemer was a principal of the firm.

Earlier in his career, Huemer was chief operating officer of New York-based York Capital from 1999 to 2003. He also started and managed a hedge fund-seeding business called Synthesis Funds.

Visium was founded in 2005 by chief investment officer Jacob Gottlieb, who spun off a portfolio from Balyasny Asset Management that he had been running since 2001. Visium Balanced Fund gained 22% in 2009 following a 14% loss in 2008. The fund was up more than 4% in January.

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