17-06-2025
Schonfeld Backs Abu Dhabi Hedge Fund Startup With $500 Million
Schonfeld Strategic Advisors is backing a new hedge fund in Abu Dhabi, allocating about $500 million to Omar Newera, a former Waha Capital portfolio manager, according to people familiar with the matter.
The long-short equity fund, expected to start operating later this year or in early 2026, will trade exclusively for Schonfeld for a period of time, the people said, requesting anonymity to discuss private information. Schonfeld has reserved the right to increase its allocation over time.
