08/25/2010

Atticus Reunion Continues at BeaconLight

Another Atticus Capital alumnus is set to join BeaconLight Capital.

The move will reunite Duncan MacLean, who oversaw commodities investing at Atticus, with his former colleagues Ed Bosek and Noam Ohana, who together founded BeaconLight at the beginning of this year. MacLean will join the New York firm in October as a partner and senior analyst.

BeaconLight is one of at least four hedge fund firms that have risen from the ashes of Atticus, which shut down last year after founder Tim Barakett said he was leaving the business to devote more time to family and philanthropic interests. The once-$20 billion firm was hit hard by the financial crisis, with assets under management dwindling to $8 billion at the time of Barakett's departure.

Bosek and Ohana have positioned BeaconLight as a back-to-basics long/short equity operation - a strategy that appears to be clicking with investors. The firm has raised nearly $100 million since the start of the year. Bosek was a partner at Atticus, while Ohana oversaw an internal fund of funds. They left that firm in May 2009, several months before Barakett announced his exit from fund management.

MacLean left Atticus in late 2009, then joined Shumway Capital as an industrial-stock portfolio manager. He left Shumway after only seven months because he wanted to rejoin his Atticus teammates. MacLean was an early investor in the BeaconLight fund, as was Barakett.

Although BeaconLight doesn't have a dedicated commodities portfolio, MacLean is expected to focus on commodity-related investments. Bosek is BeaconLight's managing partner and investment chief, while Ohana is chief operating officer.

Other Atticus alumni who have hung out their own shingles include David Slager, who oversaw the once-$11 billion Atticus European fund and now manages the remaining assets of that vehicle via his Attara Capital; Dilan Siritunga, who is setting up an event-driven equity fund called Serendiv; and Lee Pollock and Kristofer Green, who run a long/short equity fund via their Atwater Capital.

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