Thursday, 30 March 2017
Last updated 4 hours ago
Jan 7 2015 | 8:46am ET
Grosvenor Capital Management has ponied up $50 million for Deutsche Bank veteran Troy Dixon's fledging hedge fund.
Grovesnor is providing the startup cash in return for lower fees at Dixon's Hollis Park Partners, people familiar with the matter told the Wall Street Journal.
Hollis Park, named for Dixon's childhood Queens neighborhood, launched with $200 million, according to the Journal. The deal calls for Dixon to buy out Grosvenor's interest after seven years.
Dixon made his name heading up DB's 70-person residential mortgage-backed securities team until he left in 2013.