Melvin Capital Founding Partner Clymer Prepares Long-Biased Fund

A founding partner of Melvin Capital Management is preparing to launch a stock-picking hedge fund more than two years after Gabe Plotkin ’s firm shuttered under the weight of wrong-way short bets.

Greyson Clymer ’s Ninth Avenue Capital will debut later this year with a long-biased strategy, meaning it will wager more of its cash on stocks rising instead of falling, according to a person familiar with the matter.