Doug Gordon, Jon Hilsabeck and Don Jabro Raise $425M for Their New Hedge Fund
Doug Gordon, Jon Hilsabeck and Don Jabro, Vinik Asset Management veterans, have raised nearly $425 million for their new hedge fund, including an investment from Jeffrey Vinik himself, according to sources.
Boston,
MA-based Shellback Capital launched onshore and offshore versions of
the fund on January 1. Regulatory filings show the firm raised $157
million for the onshore fund and $135 million for the Caymans-based
offshore fund of the master-feeder structure, but those figures, said
the source, do not reflect all monies raised.
The strategy is “plain vanilla” long/short U.S. equities, said the source, based on “fundamental research.”
Shellback employs a staff of 10—nine of whom came from Vinik.
Hilsabeck,
who ran a long/short equity fund at Vinik, serves as portfolio manager
and sector specialist while both Gordon (who also ran a long/short
equity strategy for Vinik) and Jabro (who ran a stocks fund) are sector
specialists. Bradford E. Ali, also a Vinik alumnus, is Shellback's chief
operating officer and general counsel.
Source: FINalternatives