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Cadian Capital: Long/Short Telecoms And Technology

Cadian Capital Management celebrated its ten-year anniversary at the end of last year. Eric Bannasch started the firm with five people and around $300m in seed funding from Blackstone in October 2007, but he launched it going into one of the worst performing years for long/short strategies. With an average long/short strategy return of -15.57% in 2008, according to EDHEC Risk, Cadian has successfully navigated some difficult markets over the years. It now has 20 employees, assets under management of $1.4bn and manages money for insurance companies, fund of funds, pension funds, family offices and endowment funds. Bannasch launched Cadian because he...