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Pequot Finds Confluence with Willow Creek

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WESTPORT, Conn. (–Pequot Capital Management Inc. has entered into a preliminary merger agreement with WC (Willow Creek) Capital Management LLC, Pequot Chairman and Chief Executive Arthur J. Samberg has informed investors.

Pequot, which manages hedge funds with strategies that include long/short portfolios concentrating on health care, technology and small-cap stocks, is about 10 times larger than Willow Creek, with approximately US$6.5 billion in assets under management.

Willow Creek, based in Greenbrae, Calif., is a manager of long/short strategies with a focus on U.S. small-cap shares. The firm was founded by Aaron H. Braun and has approximately US$600 million under management. The Willow Creek Capital Partners LP fund is one of 24 in the S&P Equity Long/Short hedge fund index

The merger arrangement, scheduled to take effect in January, will be akin to a partnership, sources said, allowing Willow Creek to benefit from a sharing of administrative and marketing services with the larger Pequot.

Contact Bob Keane with questions or comments at: [email protected].