Kingdon’s Hilal Readies $200M-Plus Hedge Fund

Dec 12 2014 | 1:23pm ET

An eight-year veteran of Kingdon Capital Management is set to launch his own hedge fund next year.

Philip Hilal’s Clearfield Capital Management will debut in the first half, Reuters reports. The New York-based fund will employ a concentrated special-situations strategy, focusing on a limited number of investment ideas, primarily in developed-market equities—the same approach he practiced at Kingdom.

Hilal has already raised more than $200 million for Clearfield, including an investment from Kingdon founder Mark Kingdon. And he’s already hired four employees, including Jana Partners co-founder Gary Claar as a strategic adviser, as well as a chief financial officer and two analysts.

Hilal plans to hire at least one more analyst prior to Clearfield’s formal launch.

Hilal left Kingdon earlier this year. Prior to joining that firm, he worked at Davidson Kempner Capital Management.

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