Jeffrey Vinik, who shuttered his hedge fund Vinik Asset Management earlier this year, is seeding $20 million in startup capital for an investment firm run by his former stock picker David Iben, called Kopernik Global Investors, reports Bloomberg. The newswire reports that the firm intends to rein SMAs, registered mutual funds and private investment partnerships.

Bloomberg reports that Vinik had hired Iben away from the Nuveen Investment Inc. unit Tradewinds in June 2012. However, Vinik announced in May this year that he was closing his fund in order to focus on Tampa Bay Sports & Entertainment, which is the parent of the National Hockey League’s Tampa Bay Lightning.

The newswire further reports that over half of Kopernik’s staff of 28 came from Iben’s global value group at Vinik Asset Management. 

Edited by: Tommy Fernandez


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