Founders of Gotham and Portsea join forces in new short selling fund
Two of the biggest names in short selling are joining forces to launch a new hedge fund, betting that a downturn in markets will help them replicate their successful wagers against companies such as Wirecard and Steinhoff.
Dan Yu, founder of research firm Gotham City Research, and Cyrus De Weck, who set up Portsea Asset Management, are planning to launch General Industrial Partners early next year, according people familiar with the matter.
Gotham City is well known for its campaigns against Spanish WiFi provider Let’s Gowex, which later filed for bankruptcy and admitted its accounts had been falsified, and insurance claims processor Quindell. Portsea bet against stocks such as NMC Health, the former FTSE 100 group that went into administration in 2020 after the revelation of a multibillion-dollar fraud.
This story originally appeared on: Financial Times - Author:Dan McCrum
