Stanley Druckenmiller prepares to close down Duquesne Capital Management

August 29th, 2010
| More
Stanley Druckenmiller recently announced his decision to retire as a hedge fund manager and close his Duquesne Capital Management hedge fund, citing his inability to meet his own expectations and the personal toll of working as a fund manager. However, according to Financial Times, the announcement is not anticipated to create much turbulence in the financial markets. 30 to 40% of Duquesne’s $12 billion in assets under management are Mr. Druckenmiller’s own assets and his associates will continue to manage the money, either through a “family office” or a new hedge fund.

While Mr. Druckenmiller will not earn fees from the new firm, most of his portfolio managers will continue to work either at the family office or the new hedge fund, which will most likely manage the assets of outside investors as well.

Duquesne Capital Management was a multi-strategy investor that employs both global macro and long/short strategies and was founded by Stanley Druckenmiller in 1981. The firm was down 5% in 2010. From 1989 to 2000, Mr. Drunkenmiller was also the Chief Strategist and manager of Soros Fund Management’s flagship Quantum Fund.
For Detailed Investor Profiles on these Investors, click below:
Duquesne Capital Management
Soros Fund Management
PointState Capital
Related People: George Soros; Jeff Eberwein; Robert Donald; Robert Soros; Scott Bessent; Sean Cullinan; Sean Cullinan*; Stanley Druckenmiller; Stanley Druckenmiller*; Zameer Arora
Related Entities: PointState Capital LP; PointState Fund LP; PointState Holdings LLC; Duquesne Capital; Duquesne Fund Managament; Pharos Financial Group (seeded) ; Point State Capital; Quantum Emerging Growth Fund; Quantum Fund; Quantum Group of Funds; Soros Capital LP; Soros European Equity Fund; Soros Fund Managament*; Soros Quantum Endowment Fund
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

Add a Comment

More Recent Headlines

Activist Report: Microsoft should raise its Dividend

Paolo Pellegrini’s PSQR Management returning investors’ capital

Merrion Investment Managers opens High Alpha hedge fund to new investors

Anthony Scaramucci’s SkyBridge Capital looks to shake up seeding business

Krusen Capital and Alpha Capital team up to broaden investment options

New York pensions pull $275 million from Shamrock Capital Advisors

Halcyon Asset Management’s distressed credit fund is whipping John Paulson This Year

Och-Ziff Spread Lehman Rumors?

TPG-Axon and Montrica merger reunite Goldman veterans Singh and Metcalf

Falcone’s Harbinger Capital sees rapid slump in July