<p><img src="https://static6.businessinsider.com/image/5f15c27d5af6cc2f7e01ca80-2200/2020-07-20t035831z988472439rc2rwh9u5f84rtrmadp3space-exploration-emirates-japan.jpg" border="0" alt="hope probe mars launch united arab emirates japan H-2A rocket" data-mce-source="Mitsubishi Heavy Industries/Reuters" data-mce-caption="An H-2A rocket carrying the Hope Probe, developed by the Mohammed Bin Rashid Space Centre (MBRSC) in the United Arab Emirates (UAE), lifts off from the launching pad at Tanegashima Space Center on the island of Tanegashima, Japan, July 20, 2020." data-link="https://www.reutersconnect.com/all'id=tag%3Areuters.com%2C2020%3Anewsml_RC2RWH9U5F84&share=true"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Zach Kurz, a former Forbes' <a href="https://www.forbes.com/pictures/mdg45eikdf/zachary-kurz-29/'sh=3cba90b25c44">30 under 30 member</a> and deputy CIO for PointState, is starting his own hedge fund, sources tell Insider.</p><p>The new firm will be called Pinnbrook Capital, and is expected to start trading April 1 with $500 million. Sources told Insider the new firm has an anchor investor that is pumping in roughly half of the firm's starting capital.</p><p>Kurz is another big name to leave PointState. He took over the responsibilities of PointState cofounder Josh Samuelson when he left the firm in late 2019. Samuelson and Zachary Schreiber, two disciples of billionaire investor Stanley Druckenmiller, founded PointState in 2011 along with five other former Duquesne staffers, including Kurz who worked for Druckenmiller as analyst for a year after a year in Morgan Stanley's investment banking program. </p><p>Pinnbrook Capital will be based in New York, and is the second significant launch to come from a PointState alum in the last 12 months, following Scott Balkan's FourSixThree Capital, which was announced last year. Balkan had been the head of credit at PointState, and is expected to raise $1 billion for his new fund, including money from Leucadia Asset Management. <img class="float_left" src="https://static6.businessinsider.com/image/6037b123bed5c50011a2c674-1777/2017-05-08t120000z_1182765558_rc1de0e7dc50_rtrmadp_3_funds-sohn.jpg" border="0" alt="stanley druckenmiller" width="314" height="235" data-mce-source="Reuters / Brendan McDermid"></p><p>Pinnbrook's team is already deep despite its early days. Tom Dwan, who has been the chief operating officer of several hedge funds including Paul Touradji's fund, will be the COO, sources said. Other members of the team include former Scoggin Capital portfolio manager Jared Lubetkin as the head of equities and former MSD capital analyst Jerome Khohayting as the head of technology, media, and telecomm investing. </p><p>Kurz did not respond to requests for comment. PointState could not be reached for comment. </p><p><strong>SEE ALSO: <a href="https://www.businessinsider.com/maverick-capital-andrew-warford-leaving-chairman-stock-committee-family-office-2021-2" >Maverick Capital's top stock-picker Andrew Warford is leaving the $9 billion fund to run his own family office</a></strong></p><p><strong>SEE ALSO: <a href="https://www.businessinsider.com/red-cedar-new-quant-hedge-fund-alexander-chernyy-alternative-data-2021-1" >A former WorldQuant exec and Jefferies trader are launching a quant fund with a $1 billion portfolio. Here's how they're planning to avoid the pain that hit their peers in 2020.</a></strong></p><p><a href="https://www.businessinsider.com/pointstate-zachary-kurz-launching-new-hedge-fund-pinnbrook-capital-2021-1#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-parasite-delivered-one-of-the-best-twists-in-cinema-2020-2">What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence</a></p>
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