Vision Capital Hedge
Ex-Merrill Head in Talks With Hedge FundThe following piece on Vision Capital Advisors is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund research please see our Hedge Fund Tracker Tool.
Stan O'Neal, one of the first executives on Wall Street to be ousted as the credit crunch hit last fall, is talking to a boutique hedge fund firm about coming onboard. Vision Capital Advisors has been in talks with Stan O'Neal, the former chief executive officer of Merrill Lynch about a possible position with the firm, according to someone familiar with the situation. What O'Neal's role will be has not yet been determined, the source said. If O'Neal takes the position, it will be his first since he was axed from the top job at Merrill, after the bank announced billions in writedowns for subprime-related securities. O'Neal was replaced by John Thain, head of the New York Stock Exchange. Last week, in the last chapter of Merrill's story as an independent investment bank, Thain sold it to Bank of America for $50 billion. New York-based Vision Capital was founded by Adam Benowitz, former head trader for Rose Glen Capital and Randolph Cohen, a professor at Harvard Business School. Its first fund launched in 2005. The firm focuses on long-term stakes in small cap growth companies. It has about $722 million in assets under management. Source
I did some research found a PDF on Vision Capital through Google - here's a short excerpt and link to the full source.
Adam Benowitz of Vision Capital Advisors LLC likes betting on quality companies.
Vision is located in a low-key office on the 12th floor at 317 Madison Avenue in New York City. Benowitz and his team of 12 staff members plus some contract analysts specialize in helping micro-cap and small-cap public companies raise capital through PIPE investments.
Benowitz started Vision Capital Advisors, LLC with his childhood friend Randolph Cohen as an advisor. Despite their early friendship, Benowitz and Cohen took very different paths to Wall Street.
After receiving his degree at the University of California at Berkeley, Benowitz wasn’t quite sure what he wanted to do, so he focused on something he was very good at and became a professional poker player. Eventually, someone he met playing poker offered him a job at Susquehanna Investment Group, one of the largest specialist firms in the country, as a derivatives and bonds trader on the floor of the Philadelphia Stock Exchange.
He later moved on to the American Stock Exchange, as a specialist in biotech and other equity stock options for Susquehanna. More recently, he has been a head trader for three major investors, including Rose Glen Capital, one of the world’s largest Regulation D (PIPE) investment companies, which at its height controlled over $600 million in capital.
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Tags: Stan O'Neal, Vision Capital Advisors, Adam Benowitz, Rose Glen Capital, Randolph Cohe, Stan ONeal, Stan Neal, Stanley ONeal, Vision Capital, Vision Capital Management LP LLC INC Vision Capital Hedge Fund