Matthew Sidman, a 14-year veteran of Boston hedge fund firm Highfields Capital Management, is gearing up to launch his own hedge fund on January 2.
Sidman has raised about $500 million for Three Bays Capital, one of the largest hedge fund launches in several years. He is also said to be poised to grow to at least $1 billion in 2014, according to knowledgeable sources.
Boston-based Three Bays is being positioned as a deep value, event-driven fund that will invest in stocks in North America and Europe. In addition to Sidman, the investment team will include three analysts, a head trader and a research coordinator. Joshua Gold will serve as chief operating officer. He was previously a managing director and head of client relationship management at Jefferies.
At Highfields, Sidman, 41, had direct investment and risk management responsibilities for a portfolio with more than $1 billion. Prior to working at Highfields, Sidman was an investment banker in Merrill Lynch’s real estate department. He has a BA from Duke University and an MBA from the Wharton School, University of Pennsylvania.
Sidman serves on the board of the Boston Children’s Hospital Trust, one among three generations of the Sidman family who have given time and money to the hospital.
In 2012 he made at least $50,000 in political contributions, most of it to groups raising money for Republican causes — such as a political action committee called Romney Victory — and individual candidates such as Scott Brown and Ted Cruz.
