Ex-Governor and U.S. Senator John Corzine Adds New Title to His Resume — Hedge Fund Owner
Former governor and U.S. Senator John Corzine is planning to launch own hedge fund in recent months, people familiar with the matter told WSJ.
The
fund would start with cash from Mr. Corzine’s personal wealth and a
handful of outside investors. Mr. Corzine said he had been speaking with
about a half-dozen potential investors, and projected around $150
million in assets under management, one of the people said.
The
plans are tentative and could evolve or fall apart in coming months.
But a launch would mark an unlikely return to high finance for Mr.
Corzine, the 68-year-old former Democratic U.S. senator and New Jersey
governor who has stayed out of the limelight since commodities brokerage
MF Global declared bankruptcy in 2011.
Mr.
Corzine most likely wouldn’t be able to launch a fund until legal
proceedings against him over MF Global have been resolved. Pretrial
motions are expected to go at least until February of next year. The
Commodity Futures Trading Commission in June 2013 filed civil charges
against him and is still collecting evidence for a possible trial.
“Jon
Corzine is not managing anybody’s money and has not asked a single
investor to put money into a fund,” said Andrew Levander, a lawyer for
Mr. Corzine. “He is gratified that others might want to invest with
him.”
Source: Wall Street Journal
