Saturday, 27 December 2014
Last updated 3 days ago
Aug 19 2010 | 3:12pm ET
The death of Duquesne Capital Management could lead to the birth of several new hedge funds.
While it is unclear which of the New York-based hedge fund’s managers will either spin-off their funds or found new ones, at least some of the managers plan to go into business together. And, according to Bloomberg News, investors might be better off investing with them than with Duquesne founder Stanley Druckenmiller, who cited unhappiness with recent returns as one reason he’s closing his 30-year-old hedge fund, which has never suffered an annual loss.
Ten of the firm’s portfolio managers have enjoyed stronger returns than Druckenmiller over the past three years, the first time that the students have topped the master at the $12 billion firm.
Druckenmiller said he will wind down Duquesne next year. He plans to seed the firm to be founded by his protégés, but he will not play a management role at the fund.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.