What’s Driving This Perry Alum’s Uncorrelated Returns

Technology specialist Cadian Capital is surging this year — without any help from the most popular hedge fund stocks.

Zynga Inc. headquarters in San Francisco (David Paul Morris/Bloomberg)

Zynga Inc. headquarters in San Francisco

(David Paul Morris/Bloomberg)

Cadian Capital Management, headed by Perry Capital alum Eric Bannasch, is off to another strong start and is now poised to post its best back-to-back performance in eight years.

Its two long-short equity funds, Cadian Fund and Cadian Offshore Fund, surged 8.3 percent in May, according to a person familiar with the funds’ performance.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.