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Story #1: RWC Partners Raises $500 Million for New Fund
In the latest sign that investors are moving back into hedge funds, London-based RWC Partners said Thursday it has received nearly $500 million in capital and commitments for a strategy investing in large-cap U.S. stocks that will be run by recent hire Mike Corcell.
Corcell, who previously picked stocks for U.S. hedge fund firm SAC Capital and the U.K.'s Threadneedle Asset Management, will lead a team of five managing the strategy, which is being offered in a Luxembourg onshore fund called RWC U.S. Absolute Alpha and a Cayman Islands vehicle called RWC Biltmore fund.
The investors in the strategy include Corcell's former employer, SAC Capital, for which he worked in London about six months last year. Corcell was at Threadneedle for five years before that, running its American Crescendo fund.
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