Shumway, Christopher William of Shumway Capital Partners, LLC

“Shumway has an impressive track record since inception and has a rolling 3 year annualized return of well over 28%. Using this metric to rank hedge funds, Shumway’s performance landed them at #11 in Barron’s top 100 hedge funds for 2009.” (September 30, 2009)

A July 2009 article notes that Shumway is investing in Healthcare and technology stocks and consumer financials.

In October 2008 Mr. Shumway participated in the University of Virginia McIntire School of Commerce’s Fall Forum, “Investment Strategies in Turbulent Times.”

In July 2008 it was reported that sixteen employees at Shumway gave a total of $32,900 to The Dodd for President Campaign, even after the campaign became defunct.

In May of 2008, Shumway Capital Partners in Greenwich placed No. 99 in the top 100 largest hedge funds. They had $6.6 billion in assets under management. The Shumway Ocean Fund returned 51% in 2007.

In March 2008, Chris Shumway was ranked #18 in Alpha’s Top Moneymakers, with 2007 earnings of $400 million. Shumway Capital Partners, which specializes in long-short equity investing, has grown to $6.6 billion in assets since Shumway launched the Greenwich, Connecticut–based firm in 2002. His smaller SCP Sakonnet Fund returned 123 percent in 2007. His best performer was Hyundai Heavy Industries Co., a South Korean shipbuilder, which was up 350 percent.

On August 27, 2007 John Dyment began work at Shumway Capital Partners after leaving Deutsche Bank (as head of the bank’s capital introduction group) on August 24. He worked at the Bank for six years and is described in the article as a “hedge fund rainmaker”.

In 2007, Shumway Capital Partners was one of the top performing hedge funds in the world. The company’s SCP Ocean Fund returned 51%. They also reported to have more than a third of their capital tied up in four companies: Qualcomm Inc, EMC Corp, Medtronic Inc, and Apple Inc.
In 2006, Chris Shumway hired Lifestyle Fitness – a Danbury, Connecticut-based fitness and wellness firm – to run the company’s wellness program. Media records state that the company only had 32 employees at the time. Two representatives from Lifestyle Fitness work with Shumway Capital employees for 12 hours a week in an effort to “improve nutrition and eating habits, develop exercise programs and identify areas of stress that need to be addressed.”
Chris Shumway and his wife Carrie Shumway (listed as a homemaker) each donated $2,100 to Mitt Romney’s 2008 Presidential Campaign for a total household donation of $4,200.
The following information is regarding the class action lawsuit filed against several banks. Even though Chris Shumway and EquityPlus are not directly named in the lawsuit, their role is clearly described within the complaint file of the court case.
Media records were found that linked Chris Shumway to a company in Virginia called “EquityPlus LLC.” EquityPlus was formed by Chris Shumway, and two of his brothers in the early 1990s and was involved in the mortgage business. Apparently the company was involved in issuing second mortgages for low rates and then charging incredibly high loan fees. The Shumways used the banks as a front to collect on these loan fees. These actions resulted in a class action lawsuit filed against the three banks involved (GMAC-Residential, Guaranty, and Community Bank). The lawsuit resulted in a $41.1 million national settlement in Pittsburgh’s U.S. District Court in favor of the plaintiffs. We were able to find this federal court record but Chris Shumway and his brothers were not named in the suit. And only David Shumway was listed as a director in the corporate filings for EquityPlus LLC. The article is listed below in the media research and the federal court record is listed in our federal court records search as well. The media article claims that the Shumway brothers’ company, EquityPlus, brought in 44,500 second mortgages, $1.6 billion in loans, and generated $300 million in fees.

Here is a link to the full complaint file: http://www.rpwb.com/predatory_lending/cbnv_gnbt/community_bank_complaint.htm

Here are a few excerpts from the case complaint:

Beginning in early 1998, three brothers, David, DeVan and Chris Shumway, in concert with Randy Bapst, commenced operation of what was to become perhaps the most massive mortgage fraud scheme in United States history.
David and DeVan Shumway, and Randy Bapst, all had extensive previous experience in the mortgage industry.
Chris Shumway is the younger brother of David and DeVan. He amassed a substantial personal fortune during his tenure at the Tiger Fund, a hedge fund that was based in New York City.

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