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

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.