Home Banking & Finance Greenwich hedge fund manager shuts business to run for governor

Greenwich hedge fund manager shuts business to run for governor


Greenwich hedge fund manager David Stemerman is shutting down his Conatus Capital Management to pursue the 2018 Republican nomination for governor of Connecticut.

According to a Bloomberg report, Conatus Capital launched in 2008 and manages $1.6 billion. In a letter to investors, Stemerman said Conatus will return 95 percent of its client money by Dec. 22, adding that he would back a new fund run by Amir Mokari, his consumer sector head, that is scheduled to open in January.

The 48-year-old Stemerman also explained to his investors why he was pursuing politics.
“Connecticut – home to my family and business – is in crisis,” he wrote. “I believe that too many of our leaders do not understand the challenges we face, nor do they have a strategy for the path forward. I am deeply concerned that a small number of people in our state are thriving while many are struggling to make ends meet.”

Before launching Conatus, Stemerman was a partner and portfolio manager at Lone Pine Capital LLC. Prior to that, was an analyst at both Ulysses Management, the successor firm to Odyssey Capital, and HPB Associates.

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