Thursday, 28 July 2016
Last updated 7 hours ago
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.