Tyrus Posts First-Year Profit

Jan 19 2011 | 4:57am ET

Year one was a good one for Tony Chedraoui  and his colleagues at Tyrus Capital. The hedge fund, Europe’s largest start-up in 2009, turned a nice profit in its first fiscal year.

From April 8, 2009, through March 31 of last year, the firm earned £4.4 million, according to a regulatory filing. That money was split between Chedraoui and Tyrus’ other partners, Charles Hopkinson-Woolley, head of investor relations, Xavier Portes, Mark Madden and Tyrus Capital Services.

Tyrus, an event-driven fund, debuted with US$800 million. It closed to new investors after doubling that within a few months.

Before founding Tyrus, Chedraoui managed Deephaven Capital Management’s European event-driven fund. The fund returned 10.8% last year, Financial News reports.

Tyrus’ turnover for fiscal 2009 was £6.3 million.

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