Duquesne Managers Plan Own Hedge Fund

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.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note