Also in 2010, the same aircraft was used to transport a dying man back to Maine. In 2010, after the 2010 Haiti earthquake, Sussman donated the use of his private jet to transport medical supplies to Port-au-Prince, Haiti. The building was later named “Sussman Medical Office Center". In 1997, Sussman donated $1 million to Blue Hill Memorial Hospital to construct an outpatient building. Sussman has made substantial donations to educational, charitable, community, and political organizations. In 2015, Sussman sold MaineToday to Reade Brower, a Maine printer and newspaper owner. The investment, originally made as a loan, was restructured as a purchase of equity and resulted in Maine Values owning 75% of MaineToday Media.
MaineToday Media is the owner of the Kennebec Journal, the Morning Sentinel, the Coastal Journal, the Portland Press Herald and several digital media properties. In 2012, Sussman invested approximately $3.3 million in MaineToday Media through Maine Values LLC to provide the Maine newspaper company with much-needed working capital. In addition to the Paloma funds, Sussman is the founder of Trust Asset Management and New China Capital Management LLC. Rhodium Capital, based in London, is a long-short European credit fund founded by Ifftikhar Ali and Jeffrey Tirman. In 2013, Paloma Partners agreed to back Rhodium Capital Advisors, LLC.
#Pingree quant center serial
įollowing the sale to JPMorgan, Sussman has acted as a serial investor and backer of new hedge funds such as Nassim Nicholas Taleb's Empirica Capital and David Shaw's D.E. īy Paloma's middle and back-office operations were acquired by JPMorgan Worldwide Securities Services in February 2006 for an undisclosed sum. Among Paloma's traders was Nicholas Maounis, who later formed Amaranth Advisors, to which Sussman provided seed money. Sussman pioneered the approach of minimizing risk by "dividing assets among independent investment professionals and demanding absolute transparency of their holdings." Paloma achieved a profit in 15 out of its first 18 years. Paloma's culture was risk-averse, and Sussman sought to insulate the funds from market volatility. As a money manager, Sussman sought to keep fund strategies and management targeted rather than sprawling. investors (Paloma International Fund, Capital Preservation Partners Limited, and European Merger Fund Limited for non-U.S. investors (Paloma Partners Institutional Investors, Capital Preservation Partners, and European Merger Fund) and non-U.S. A number of affiliated funds were established for both for U.S. In 1981, Sussman founded Paloma Partners, a Greenwich, Connecticut-based hedge fund with mostly institutional clients. After school, he served as vice president and chief financial officer of the Titan Industrial Corporation, a privately held trading firm, and then managed money for the partners of a New York law firm, Gelberg & Abrams. Sussman's career in finance began in 1958, when, at the age of 12, he made a sixfold return on a $300 investment in the stock of Michigan Sugar, by correctly predicting that the Cuban Revolution would disrupt sugar supplies and drive up the price of sugar commodities. He then attended Columbia College before continuing on to New York University, from which he earned B.S. He was raised in Miami, Florida and attended high school at Windsor Mountain School, a boarding school in Lenox, Massachusetts. Sussman was born to a Jewish family in June 1946, the son of Beatrice (née Zimmerman) and William Sussman.
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