A fund started by former SAC Capital traders just made a big hire

Lee Ainslie

(Lee Ainslie.Bloomberg TV screengrab)

A $600 million hedge fund has made a big hire from Lee Ainslie's Maverick Capital.

Winston Holt has joined Electron Capital as president and will lead the marketing and investor relations team, according to an emailed memo that was sent Thursday and was viewed by Business Insider.

Jay Livnat, Electron's managing director, is transitioning out of the role and will be advising the hedge fund on an external basis, the note said.

Electron, which was launched by a group of former SAC Capital traders, managed about $592 million including borrowed money as of year-end last year, according to a regulatory filing.

Holt headed director of investor relations and was a managing director at Maverick. He left Maverick in June, according to a person with knowledge of the matter.

Maverick managed $11.6 billion as of June this year, according to an investor update obtained by Business Insider.

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