Leucadia to Invest in Startup Hedge Fund Manager

August 18, 2014

On August 18, 2014, FINalternatives reported that Leucadia National Corp. had agreed to invest approximately $400 million in seed financing with the newly formed hedge fund management firm of Solomon Kumin, the former COO of SAC Capital Advisors.


On August 18, 2014, FINalternatives reported that Leucadia National Corp. had agreed to invest approximately $400 million in seed financing in Folger Hill Asset Management, the new hedge fund management firm of Solomon Kumin, the former Chief Operating Officer of SAC Capital Advisors. The investment will give Leucadia about a 50% ownership share in Folger Hill. Solomon Kumin will serve as the Chief Executive Officer of the firm, which will include portfolio-management teams in New York and Boston. Kumin is looking to additional investments from friends, family, and potential employees and hopes to raise a total of $1 billion prior to launch, in early 2015.

The terms of the investment were not disclosed.

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Categories

Hedge Fund Venture Capital, Investment Manager Venture Capital, Seed Deals, Transactions