Exec Fired For Housewives Show Lands at Hedge Fund

Date: Tuesday, July 29, 2008
Author: HFN Daily Report

The private equity executive who lost his job because he appeared on "The Real Housewives of New York City" has found work at a hedge fund.

Jason Coldone has joined Chimay Capital Management. Colodne lost his job at Patriarch Partners because he appeared alongside girlfriend Bethenny Frankel, the unmarried "housewife" on the reality TV show.

Colodne had been president of Patriarch. He went on the show to help promote a charity. His beau Frankel is a natural-food chef who was also a finalist on "The Apprentice: Martha Stewart."

His erstwhile employer claimed in the press that it was "horrified" that Colodne was on the "tawdry" show and went on to allege his TV appearance made him miss work.

In March, Colodne sued Patriarch for $55 million, claiming the company fired him without cause and refused to pay him his severance.

At Chimay, Colodne will help open a hedge fund investing in the credit market.

The company hired Colodne and veteran trader Jason Beckman to run the fund. Beckman used to work for Goldman Sachs. In addition to his stint at Patriarch, Colodne has worked for Goldman Sachs and Morgan Stanley. A request for further comment about the fund was not returned at press time.

Chimay Capital has a decade-old long-short equity hedge fund.

"The Real Housewives of New York City" is aired on the Bravo network.