David Ganek: Level Global Investors LP

David Ganek’s Level Global Investors LP is a bottoms-up hedge fund that emphasizes stock picking, and then goes long or short depending on market conditions. In recent years, Ganek made big investments on Adobe, Bank of New York, Cadbury Schweppes, CVS, eBay, Google, Halliburton, and Yahoo. (In other words, he invests in multiple industries, but with an emphasis towards technology) He also recruited Adam Jaffe, a former protégée of Louis Bacon at Moore Capital, as chief operating officer in 2004. Level Global has $4 billion under management.

In April,2010, A Goldman Sachs Group Inc. buyout firm bought a minority stake in David Ganek’s $4 billion Level Global Investors LP. Goldman added a hedge fund that can bet on rising as well as falling stock prices globally.

Goldman Sachs’s Petershill Fund Offshore LP, a $1 billion fund set up to buy minority stakes in hedge funds, does not receive any management or investment decision-making role with the acquisition of Level Global, according to a letter that David Ganek sent to clients. Level Global said it will use the proceeds from the sale to help hire and retain top talent.

The firm has 64 employees, of which 25 are investment professionals.

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