Verition Fund Management LLC
The firm, based in New York, was founded by Nicholas Maounis, the former founder/CIO of Amaranth Advisors LLC, a multi-strategy hedge fund founded in 2000. Founded as Maounis' family office in March 2008, it was transformed into a fund structure in October 2008. Nick Maounis (80% CEO) and Josh Goldstein (20% President, COO) own the company. Amaranth traded at $9.2 billion at its peak before collapsing in September 2006 after losing more than $6 billion on natural gas futures, a portfolio managed by Brian Hunter. Ten years later, 90% of the assets had been returned to clients, while 10% remained frozen until at least December 2016. All regulatory proceedings against Amaranth have now been resolved.
