Published:
North Sound Partners With Duff Capital Advisors
GREENWICH, Conn., July 1 /PRNewswire/ -- Duff Capital Advisors LP (DCA),
an institutional investment management firm founded by Phil Duff, announced
today that the North Sound Capital LLC (North Sound) team will join DCA in
July. In addition, DCA will direct a significant, long-term investment to the
North Sound strategy. North Sound, a global long/short equity manager with
approximately $1 billion under management, was founded by Tom McAuley in 2001.
Terms of the agreement were not disclosed.
Mr. McAuley will continue to be the portfolio manager of DCA-North Sound
and will serve on the Duff Capital Advisors Investment Committee. Given his
deep experience in the financial industry, he will also assist in the
development of new investment talent within DCA. The entire 38-person staff of
North Sound will be offered the opportunity to join DCA, including its 13
person investment team.
"We could not have found a better manager or team to mark the build out of
our investment management platform," said Phil Duff, CEO and founder of DCA.
"I have known Tom for over ten years and he is one of the best in the
business. We are delighted that he and his talented team are joining us."
"We are thrilled about this partnership and the benefits it provides to
our employees and investors," said Mr. McAuley. "We strongly believe that
alignment with a diverse asset management organization will be of a great
benefit to our investors."
Mr. McAuley continued, "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.
I am looking forward to working with him and his team."
Mr. McAuley's experience spans twenty years in finance and investing.
North Sound manages global long-short equity strategies across various
industry sectors. Mr. McAuley's experience prior to forming North Sound in
2001 included serving as a Managing Director at Tiger Management, LLC.
DCA was launched on March 5, 2008 with up to $500 million of equity
capital support from Lindsay Goldberg, a leading private equity firm based in
New York. That same day, it announced the purchase of the intellectual
property, including the proprietary risk analytics and portfolio optimization
tools, of Azimuth Asset Management. DCA currently has approximately 45
employees.
About Duff Capital Advisors
Duff Capital Advisors (DCA) is an investment management firm registered
with the Securities and Exchange Commission that provides institutional
investors with a unique, holistic approach to portfolio management. DCA seeks
to provide customized solutions to pension funds, insurance companies,
foundations, endowments, and sovereign funds to help organizations fund their
long-term liabilities by integrating a complete suite of investment strategies
with advice and proprietary liability risk management and allocation tools and
services. DCA's institutional-quality operational infrastructure and risk
management capability will be combined with a broad array of strategies with
an emphasis on non-correlated, alpha-generating alternative investments,
including absolute return strategies, private equity and real assets. These
strategies can be enhanced in multiple ways, utilizing leverage, hedging
tools, overlays or wrappers to customize solutions that meet clients'
objectives and liability and risk profiles.
DCA was founded by Phil Duff, who co-founded and was Chairman & CEO of
FrontPoint Partners.
Please visit www.duffca.com for additional information about the firm.
SOURCE Duff Capital Advisors LP
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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