11/02/2011

Archeroak Settling Down as a Family Office

If former SAC Capital president Brian Cohn ever had any intention of establishing a hedge fund firm of his own, itís now pretty clear heís going to stick to running his own money.

Cohn recently laid off two staffers at his family office, Archeroak Capital, leaving only one other besides himself. Word has it that Christina Kim was one of those let go. She is best known for her tenure at Daniel Bentonís Andor Capital, which shut down amid the market collapse in late 2008.

Cohn spent 11 years as president of SAC before leaving the Stamford, Conn., firm in 2008 to launch Archeroak. Early on, sources said, Cohn planned to start a hedge fund operation, despite having limited experience on the investment side of the business. The idea was that he would recruit top-notch traders and analysts, while drawing on his experience at SAC to build an institutional-quality infrastructure.

But apparently investors didnít buy the premise. In the end, they couldnít overlook the fact that Cohn had no money-management experience.

However, a source close to the Old Greenwich, Conn., firm insisted that Cohnís intention from the start was to manage money only for himself. In any case, he plans to maintain Archeroak as a family office going forward.

Among Cohnís earliest hires at Archeroak was Jeff Messina, a former Level Global analyst who covered cyclical stocks. But Messina was on board only for a short while, and currently works for Citadel in San Francisco.

Back Print