Duquesne’s End Not The End Of Duquesne’s Team

Aug 20 2010 | 1:46pm ET

Most of Duquesne Capital Management’s 10 portfolio managers will continue to manage money for firm founder Stanley Druckenmiller even after the 30-year-old hedge fund closes its doors next year.

Duquesne’s stable of fund managers are expected to split between a new hedge fund firm founded by themselves and Druckenmiller’s planned family office, the Financial Times reports. “He’s got a lot of quality folks,” on source told the newspaper. “A lot will just be recycled back.”

Druckenmiller told investors this week that he would close his enormously successful $12 billion hedge fund, citing dissatisfaction with his own performance as a fund manager in recent years—despite Duquesne’s unbroken streak of positive annual performance—and the personal toll managing so much money has taken.

Meanwhile, the FT reports that the closure of Duquesne is unlikely to have much of an effect on the markets. Druckenmiller himself accounts for as much as 40% of the firm’s assets, and that Duquesne is not heavily leveraged and is primarily invested in liquid securities. In addition, Druckenmiller is giving himself plenty of time to wind the fund down, until the end of next year.

“There will be no blip in the markets as he returns money to his investors,” one prime brokerage executive told the FT.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note