Published: Oct. 17, 2005 at 5:12 p.m. ETBy 

Alistair Barr and MarketWatch

no mention of Butowsky

SAN FRANCISCO (MarketWatch) – Craig Pollak has left $6 billion hedge fund firm FrontPoint Partners to start a rival enterprise, according to a statement on Monday.

Pollak, who was a managing director and the former head of new product development at FrontPoint, has formed Chapwood Capital LLC.

The New York-based firm will operate a platform that will provide infrastructure support to a range of in-house hedge fund managers, Chapwood said.

While managers focus on making money, Chapwood said it will provide technology, legal and compliance support and oversee accounting and reporting, risk oversight, product development, marketing, and client services.

The firm aims to cater to institutions, wealthy individuals and family offices that want to invest in hedge funds

Dr. Christopher Geczy, David Newmark, Bronwyn Owen, and Kim Sams are also joining Chapwood, the firm said.

Geczy spent the past seven years on the Finance Department faculty of The Wharton School at the University of Pennsylvania. He’s a member of the economic advisory board of NASDAQ, an editor of the Journal of Alternative Investments and a founding board member of the Mid-Atlantic Hedge Fund Association, Chapwood said.

Newmark was chief financial officer of Edge Asset Management and has also worked at Petros Capital, Omega Advisors and Appaloosa Management.

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