Bloomberg News

Diamondback Founder’s New York Home Is Damaged by Fire

July 06, 2012

A mansion owned by Diamondback Capital Management LLC co-founder Richard Schimel was severely damaged in a fire caused by a lightning strike during a July 4 storm, according to a fire department spokeswoman.

Lightning struck the roof of the hedge-fund manager’s home at 12 Hallock Place in Armonk, New York, just after 10:30 p.m., fire chief Luci Labriola-Cuffe said in a telephone interview today. A housekeeper, who was the only person in the house when the fire broke out, wasn’t injured, she said. Armonk is about 35 miles (56 kilometers) north of midtown Manhattan.

“There’s significant damage to the house after the fire burned down from the roof to the second floor,” Labriola-Cuffe said.

About 75 firefighters spent more than four hours battling the fire, she said. Three cars parked in the garage, including a Ferrari, were spared, and a cat was rescued from a second-floor bedroom. Schimel purchased the house in 2001 for $2.95 million, according to Town of North Castle assessor’s office.

Steve Bruce, a spokesman for Stamford, Connecticut-based Diamondback, declined to comment on the fire, which was first reported by The Journal News.

Schimel started Diamondback, which manages $2.3 billion, with Lawrence Sapanski and Chad Loweth in 2005. The hedge fund in January agreed to pay more than $9 million to end an insider- trading investigation involving stocks including Dell Inc. (DELL:US)

To contact the reporter on this story: Saijel Kishan in New York at

To contact the editor responsible for this story: Christian Baumgaertel at

The Good Business Issue
blog comments powered by Disqus