It didn’t take long for Manos Vourkoutiotis to dig himself out of the rubble of Amaranth Advisors and start rebuilding his hedge fund career. Vourkoutuitis, who headed the Connecticut-based hedge fund’s Canadian unit, appears happily on his way to recovery following the $6 billion natural-gas disaster that did in his former firm. Vourkoutiotis, the Globe and Mail reports, is already bringing in bacon to Canada, with C$800 million from Moore Capital Management, founded by Louis Bacon. Vourkoutiotis reportedly also will raise money from others as well. Despite Amaranth’s troubles, Mr. V. apparently has had little trouble escaping from the shadows of his old hedge fund. The reason could be as simple as contrasting the investment styles of Amaranth’s Canadian unit and that of the sinking mother ship. While the Greenwich headquarters loaded up on natural gas, and then sprung major leaks when the commodity headed in the wrong direction for it to make money, Amaranth in Canada also invested in a broader range of securities, including distressed debt and equities. Vourkoutiotis, who is said to be “pretty excited” about his new venture, though no details about his new fund have been revealed, may find himself doing business in familiar surroundings. The Globe and Mail reports that he is thinking about setting up shop out of the freshly renovated and soon to be empty Toronto office of Amaranth.
