John Black and Gianluca De Berardinis, former portfolio managers at SAC Capital Advisors, have formed Technique Asset Management and will launch a hedge fund of the same name on April 1. The long/short equity strategy is expected to launch with $100 million and will focus across the technology spectrum.

"We just feel the timing is right for technology," De Berardinis said. "This is something we plan on doing for a while." Black and De Berardinis left Steven Cohen's shop last January (AIN, 1/10/05) and have set up an office in New York.

The fund will require a $1 million investment minimum with a one-year lockup. The management fee will be 2% and performance fee will be 20%. The prime broker is Goldman Sachs