NYT – Stanley F. Druckenmiller’s former colleagues at Duquesne Capital Management are opening a new firm with $5 billion in assets, in what will be the second-largest hedge fund start-up ever, Bloomberg News reported, citing four people briefed on the plans.
Mr. Druckenmiller will invest about $1 billion in the new fund, Point State Capital, but will have no ownership stake, according to the report.
