Moore Capital PM Fired After Raucous Hamptons Party
Jul 7 2016 | 10:47pm ET
A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management has been fired after a Wolf of Wall Street-style pool party he threw last weekend allegedly trashed a rented $20 million home in the Hamptons.
Brett Barna reportedly rented the home through online portal AirBnB under the premise he would be holding a “50-person fundraiser for an animal charity”, according to a MarketWatch article citing the unidentified owners of the 14-bedroom house in Sag Harbor.
In the event, more than 1,000 people attended the party, nicknamed Sprayathon, and which has been described as being “awash with champagne” and replete with “scores of bikini-clad women and costumed gun-toting midgets.”
Multiple media outlets have reported that the owners were threatening a $1 million lawsuit against Barna, although the status of those plans could not be ascertained.
“Mr. [Brett] Barna’s personal judgment was inconsistent with the firm’s values,” Moore Capital said in a terse statement issued on Thursday, “He is no longer employed by Moore Capital Management.”
Barna joined the hedge fund manager in 2009 after stints at Perry Capital and Lazard, according to his LinkedIn profile.
from FINALTERNATIVES
Jul 7 2016 | 10:47pm ET
A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management has been fired after a Wolf of Wall Street-style pool party he threw last weekend allegedly trashed a rented $20 million home in the Hamptons.
Brett Barna reportedly rented the home through online portal AirBnB under the premise he would be holding a “50-person fundraiser for an animal charity”, according to a MarketWatch article citing the unidentified owners of the 14-bedroom house in Sag Harbor.
In the event, more than 1,000 people attended the party, nicknamed Sprayathon, and which has been described as being “awash with champagne” and replete with “scores of bikini-clad women and costumed gun-toting midgets.”
Multiple media outlets have reported that the owners were threatening a $1 million lawsuit against Barna, although the status of those plans could not be ascertained.
“Mr. [Brett] Barna’s personal judgment was inconsistent with the firm’s values,” Moore Capital said in a terse statement issued on Thursday, “He is no longer employed by Moore Capital Management.”
Barna joined the hedge fund manager in 2009 after stints at Perry Capital and Lazard, according to his LinkedIn profile.
from FINALTERNATIVES
