Phil Duff Snares $1B Hedge Fund

Jul 2 2008 | 2:00am ET

Duff Capital Advisors, an institutional investment management firm set up by FrontPoint Partners founder Phil Duff, said yesterday that it is partnering up with North Sound Capital, a billion dollar global long/short equity shop. 

DCA will direct a significant, long-term investment to the North Sound strategy. Terms of the agreement were not disclosed.

North Sound founder Tom McAuley will serve as the portfolio manager of DCA-North Sound and will serve on the Duff Capital Advisors Investment Committee. The entire 38-person staff of North Sound will be offered the opportunity to join DCA, including its 13- person investment team.

“Phil is one of the true visionaries in the industry and the strong capital support he has received from Lindsay Goldberg is a testament to his ability to build an institutional money management firm,” said McAuley.

DCA was launched in March with up to $500 million of equity capital support from private equity firm Lindsay Goldberg.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of