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Ex-Aptigon Capital head, Scoria Capital founder launch investment advisory firm

Cinctive Capital Management LP has launched, backed by $1 billion in commitments from multiple investors.

The company, which focuses on long and short equity strategies, was founded by Richard Schimel and Lawrence Sapanski, who are also co-chief investment officers. Cinctive Capital has 11 portfolio managers, according to a news release.

Schimel was previously the head of Aptigon Capital. Sapanski is the former chief investment officer of Scoria Capital Partners LP, an investment management firm he founded.

Investors who made commitments include the Employees Retirement System of Texas and PAAMCO Prisma LLC unit PAAMCO Launchpad. The company has partnerships with these two investors.