Forbes – Two Sigma Investments, the Manhattan-based quantitative hedge fund that manages $24 billion, sued a former vice president on Thursday who had been working to start his own hedge fund firm.
Two Sigma claims that Sergey Fein, 34, a former Two Sigma quantitative software engineer and research analyst, breached his non-disclosure and non-compete agreement by forming a new hedge fund firm, Phelps Gate Capital Management, in October 2014. According to the 17-page complaint filed in Manhattan’s New York state court, Fein organized his new hedge fund “not even halfway through Fein’s non-compete period.”
