- Charlie Antrim's Walnut Level Capital is up and running in Colorado.
- The former Point72 portfolio manager worked for Steve Cohen for more than 15 years, originally as an analyst at Point72's predecessor SAC Capital.
- Antrim's new firm will focus on investing in the supply chains for agriculture and chemicals, sources tell Business Insider.
- The firm is running $250 million to start.
- Visit Business Insider's homepage for more stories.
Former Point72 portfolio manager Charlie Antrim's Walnut Level Capital recently launched despite the ongoing pandemic caused by the novel coronavirus.
The $250 million hedge fund currently employs one analyst, but expects to grow, sources tell Business Insider. The firm is focused on investing in the supply chain for chemicals and agriculture.
Antrim spent more than 15 years working for billionaire Steve Cohen in Stamford, Connecticut, according to his LinkedIn. He joined Point72's predecessor, SAC Capital, as an analyst in 2005, and eventually became a portfolio manager before leaving in June of last year.
Antrim declined to comment.
New launches in the hedge fund space have been rare during the pandemic, which canceled large conferences where wanna-be managers meet potential investors and limited travel.
"People's perspectives are about 12 inches in front of them at this point," said Andrew Saunders, president of Castle Hill Capital Partners and head of the firm's capital introduction services.
"Conversations that have been percolating for months have ground to halt, and it makes sense."
Even established managers have struggled to keep assets invested, with many of the industry's largest investors under a liquidity crunch. Hedge Fund Research said that the first quarter had more than $33 billion in outflows — the most in over a decade.
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