The State of Connecticut lent a hand, too, calling in-state employers to help place Amaranth people locally.
There will be more debacles like the now notorious Amaranth Advisors before this inflation unwinds.
Amaranth, which is in the process of unwinding, was leveraged just four to one.
"The biggest losers were Amaranth's employees, not the San Diego pension fund, " says former treasurer DiRocco.
It's been a year since Amaranth Advisors LLC disintegrated in the biggest hedge fund collapse ever.
She has opened a hedge fund recruiting boutique, Arete Group, with former Amaranth colleague Susan Biegler.
Soon after Amaranth's problems erupted, calls from recruiters at other hedge funds started pouring in.
Amaranth founder Nicholas Maounis is still overseeing the skeleton crew unwinding Amaranth's remaining positions.
Amaranth's former chief financial officer, James Glynn, took over in the same position at Highbridge.
To help cover its losses, Amaranth also sold a big chunk of its leveraged loans.
The latest hedge-fund crisis Amaranth's demise after making disastrous bets on natural gas barely troubled the markets.
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David Chasman was responsible for Amaranth's energy risk management at the time the risk got a little high.
Another 30 or so Amaranth people have made their way to Goldman Sachs, says a senior Amaranth executive.
M, an American manufacturer, and the San Diego County employees' retirement fund were among those exposed to Amaranth.
Ricky Solomon, the Amaranth founding partner and former head of convertible arbitrage who landed at Oppenheimer, lost most of his personal assets.
Meanwhile, investment banks have been assessing their losses as a result of lending to Amaranth through their prime-brokerage arms.
The intervention of Citadel which last year snapped up bits of Amaranth, another troubled hedge fund is seen by some as encouraging.
The collapse of two hedge funds, Long-Term Capital Management in 1998 and Amaranth Advisors in 2006, were cases in point.
Arthur DiRocco, Amaranth's treasurer, led nine employees to Merrill Lynch, where they have set up a new subsidiary, Hedge Fund Infrastructure Services.
Within days Amaranth employees were trolling more than 1, 500 job listings.
He bought up hedge fund Amaranth Advisors' losing positions in natural gas in 2006 in the trade that propelled him to billionaire status.
Rather than being rendered radioactive, Amaranth's former employees have been welcomed elsewhere on Wall Street like conquering heroes--in many cases with multiple job offers.
He was named head of Amaranth's energy-trading operations in the spring.
As its losses mounted, last weekend Amaranth quietly summoned a group of investment banks to its Connecticut headquarters to try to sort out the financial mess.
Continuing the theme of found food, a soft-shell crab is presented as an edible beach treasure, surrounded by amaranth grains for sand and brown-butter sauce for seawater.
With teams from each firm ensconced in separate rooms, officials from Amaranth shuttled between them, seeking to sell off positions, craft bridging loans and possibly negotiate a takeover.
The Amaranth diaspora landed them in a pantheon of hedge fund operators: Goldman Sachs, Highbridge Capital, Fortress Investment Group, Millennium Capital, Moore Capital, Carlyle-Blue Wave and Duquesne Capital among them.
Amaranth Cline, 70, in treatment for bile-duct cancer at Mount Sinai, says she learned of Image Share from the medical library there when she requested a copy of her scans.
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Scott Davidson, who ran Amaranth's asset-backed securities desk, worked his own connections to land (along with some ten colleagues) at Carlyle-Blue Wave, a hedge fund offshoot of the private equity giant.
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