A California hedge fund that tormented four Northeast thrift managements for more than a year has been dissolved by its founder, who has started a new investment banking firm.

Stephen H. Gordon, who had been principal of Newport Beach-based Genesis Financial Partners since its inception in mid-1995, has formed Financial Institutional Partners LLC in Irvine, Calif. Mr. Gordon shut down Genesis at the end of last year after unsuccessfully pressuring four thrifts in Massachusetts and Pennsylvania to beef up earnings or sell out.

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