Millgate Capital Ramps Up Front Line

Feb 24 2009 | 3:04am ET

New York- and London-based Millgate Capital has hired Duncan Brown from Winton Capital to lead its business development efforts. In addition, the firm has also promoted Simon Thompson to chief operating officer and appointed Adrian Headon as CFO.

Thompson joined Millgate as a partner in 2007 from Barclays Global Investors, where he was head of equity trading in Europe. Headon joins the firm from Morgan Stanley Fund Services.

Millgate was founded in 1997 by James Lyle, formerly of Tiger Management, and Martin Woodcock, formerly of Salomon Brothers. The firm manages more than $1 billion in assets under management.

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Beyond the tear sheet: War stories from the front lines of hedge fund due diligence

Investing in private partnership structures such as hedge funds, private equity and private real estate can be a fruitful and exciting endeavor, especially when venturing into asset classes that lack competition and efficiency. An important qualification to remember when beginning due diligence on a partnership is that no investment is perfect. Each one has its own risks, however esoteric or idiosyncratic, and risks change over time, as do the operations and other intricacies of investment management.