Deephaven Bigwigs To Remain In Knight Fold

Dec 6 2006 | 1:42pm ET

Minneapolis-based hedge fund Deephaven Capital Management may be on the verge of signing a new agreement with its owners that could net its management additional millions in compensation.

Jersey City, N.J.-based trading firm Knight Capital Group bought Deephaven three years ago, and the $4 billion hedge fund contributes nearly one-quarter of Knight’s overall revenue. Now, the New York Daily News reports, Deephaven chief Colin Smith and his deputies are set to sign new, multi-million dollar contracts with Knight, keeping them at Deephaven, and setting aside rumors that Deephaven brass may have been seeking a separation or independence from Knight.

 


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