Jupiter nabs Steve Cohen hedge fund alum for long/short launch

Jupiter Asset Management has appointed a former alumnus of Steve Cohen’s hedge fund, Darren Starr, to its growing liquid alternatives business as it plans to launch a US equity long/short fund.

Jupiter nabs Steve Cohen hedge fund alum for long/short launch

The fund house said it plans to launch the Ucits-compliant fund later this year, pending regulatory approval.

Starr has 10 years’ experience managing US equity long-short portfolios across roles at UBS and Caxton. Between 2010 and 2012, he also worked at SAC Global Investors, the US hedge fund headed by billionaire Cohen before a Securities and Exchange Commission investigation into insider trading required external money to be returned. It is now run as Cohen’s family office.

Jupiter’s head of investments for alternatives Magnus Spence (pictured) said: “Developing and expanding our liquid alternatives capabilities is a key strategic goal for Jupiter. Darren’s appointment enables us to strengthen and broaden our presence in this sector. We believe there is significant client demand for strategies which are uncorrelated to the performance of the equity market given current valuation levels, particularly in the US equity market.”

Starr said: “Jupiter has a growing reputation in the liquid alternatives space, and I am excited to be joining the company at this point in its journey.”

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