Bacon’s Spinoffs Stumble as Hedge Funds Said to Liquidate
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Louis Moore Bacon built Moore Capital Management LLC into one of the biggest and most successful hedge funds over more than two decades. His record investing in startups run by former traders is less stellar.
Salute Capital Management, run by Lev Mikheev, is the third hedge fund backed by Moore and run by one of his ex-traders to liquidate in the past four months. Mikheev returned to Moore two weeks ago after his two-year-old fund lost 11 percent last year, said a person with knowledge of the matter, asking not to be named because the information is private.