Blackwall Founder Brings Fed-Honed Skills To Financials Hedge Fund

Jun 8 2011 | 12:13pm ET

A former Federal Reserve man is offering his expertise in the banking industry to profit from what he calls a once-in-a-career opportunity in financials.

Michael Durante has launched hedge fund Blackwall Partners, HFMWeek reports. The long/short equity value fund focuses on high-recurring revenue business, including banking, financial services, specialty finance, financial technology and transaction and payment processing, employing a fundamental research process.

"In terms of financials, we see the greatest opportunity in a career," Durante told HFM. "Some of the greatest financials in the world are trading at less than one times book value. This is akin to the value opportunity we saw coming out of the" savings and loan crisis in the 1980s.

Durante launched his maiden vehicle with internal capital. Dallas-based Blackwall is currently engaged in a worldwide fundraising effort.

Before founding Blackwall, Durante worked at John McStay Investment Counsel, where he honed the strategy employed by his new hedge fund. Prior to that, he worked at the Federal Reserve, examining banks and holding companies.

Durante has hired former Mobility Ventures investment director David Houston as chief operating officer.


In Depth

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Managing Diversification And Drawdowns In The “New Normal”

Mar 5 2015 | 2:42pm ET

In 2008-2009 diversification alone failed to provide adequate risk management for...

 

Editor's Note