Hedge Fund Industry Loses Early Torchbearer Arthur Samberg
Pequot Founder’s Legacy.
Arthur Samberg, founder of Connecticut-based Pequot Capital Management, at one time one of the world’s leading funds, passed earlier this month after suffering from leukemia. Samberg led a long career in finance, and was moved into the spotlight following Pequot’s founding back in 1999. The firm was successful in its early days, soaring to $15 billion in assets by 2001. According to Omega Advisers founder Leon Cooperman, “He was a very intelligent guy, very hard-working, smart and successful…He never forgot where came from, he shared his success with others less fortunate, he was self-achieved.”
Samberg claimed in a 2015 interview that his success spurs from the combination of technology and finance expertise. He was adamant in solving societal issues while investing in markets and creating jobs.
Samberg’s career also had some rough patches. Most notably, Pequot had to pay a $28 million settlement in 2010 amidst claims of the firm illegally obtaining information from Microsoft. Following Pequot’s end, Samberg specialized in technology and venture capital with the goal of investing principally in clean energy with his family. Samberg’s family was a prolific investor in the clean energy company TAE Technologies, among other investments.
Born in New York City in 1941, Samberg grew up in New Jersey. He went on to study at the Massachusetts Institute of Technology. Subsequently, Samberg acquired his master’s degree from Stanford and Columbia University. He is survived by his wife, two sons, daughter, and seven grandchildren.
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