Dawnay Day In MBO

Jul 25 2008 | 12:01pm ET

Dawnay Day Milroy has a new name and a new brand thanks to a management buyout of the multi-strategy hedge fund shop.

The Channel Islands-based firm, which has US$1.2 billion in assets under management, will now operate as Corazon Capital Management. The firm was founded in 1997 by Robert Milroy and was half owned by management and half by private shareholders and investors in the Channel Islands. The buyout of the remaining shareholders is being led by joint-managing directors Robert Milroy and Paul Meader.
“Our ability to execute a management buyout at this time when markets have been in such turmoil is testament to the stability created by an absolute return approach to investing,” said Milroy.
Meader added that the firm will continue to focus on its long-term expansion plans, such as a new Geneva office opening and a series of product launches. 

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