Castle Hook Partners, the hedge fund run by a team of former money managers from Soros Fund Management, began trading this week with about $900 million of assets, according to a person with knowledge of the matter.
Trading started Tuesday, said the person, who asked not to be named because the information is private. The assets include a substantial anchor investment from Stan Druckenmiller. He trained Castle Hook’s chief investment officer David Rogers at his former hedge fund Duquesne Capital Management, and described him as “extremely talented” in an April interview.
The investment is Druckenmiller’s biggest after the $1 billion he gave another protege, Zach Schreiber, to help start PointState Capital in 2011, Bloomberg reported in June. Sean Rhatigan, the chief operating officer for Castle Hook, declined to comment.
Rogers, who sat on the investment committee for billionaire George Soros’s family office, left the firm in May along with money manager Joshua Donfeld after a disagreement with CIO Ted Burdick about the direction of global markets, Bloomberg reported in April. They’ve since brought over seven analysts from their team at Soros, and received help from billionaire George Soros’s family office to keep the group intact. The team includes Jake Carney and Matthew Lentz, who are now partners at Castle Hook.
The New York-based hedge fund, which will invest across asset classes, also brought on Mike Hamill from Mason Capital Management as head trader, and Rhatigan from Och-Ziff Capital Management Group LLC.
To contact the reporter on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net. To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Alan Mirabella
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