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: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...