Philip Hilal Introduces Hedge Fund Entitled Clearfield Capital ManagementFollowing to person with knowledge of the matter, Clearfield Capital Management, a special-situation hedge fund that will focus on long/short equity and event-driven investments, is being launched by Philip Hilal, a former executive from Kingdon Capital.
Hilal left Kingdon earlier this year after eight years there as a generalist. So far, Hilal has raised more than $200 million and Mark Kingdon, his former boss, will be among the new fund's founding investors, the person said.
Hilal, who has kept a low profile in the hedge fund industry by rarely speaking at industry conferences, did not return a message seeking comment.
He is the latest in a string of seasoned investors to spin off from their old firms to start a next generation of hedge funds at a time pension funds and other big investors are looking to allocate more money to alternative strategies.
New York-based Clearfield will invest primarily in developed-market equities, in a multi-disciplinary approach, continuing the strategy Hilal implemented at Kingdon. The firm expects to focus on a limited number of ideas.Source: Reuters