efinancialnews.com – Mark Derbyshire, a partner at high-profile activist hedge fund firm The Children’s Investment Fund Management, has left to join a rival hedge fund.<\/p>\n
Derbyshire, a senior lawyer at TCI who had been at the London-based firm for almost seven years, left at the end of April, said Angus Milne, TCI’s head of compliance. He said Derbyshire planned to join hedge fund firm Duet Group.<\/p>\n
Duet CEO Henry Gabay said Derbyshire will join the firm next week as head legal counsel for the firm’s hedge funds and private equity funds. Duet manages more than $5 billion in assets.<\/p>\n
Derbyshire couldn’t immediately be reached for comment.<\/p>\n
TCI, which manages $12 billion in assets, is one of Europe’s biggest hedge fund managers, is known for taking an activist approach to investments in companies such as Japan Tobacco, European Aeronautic Defence & Space Co and Lloyds Banking Group. In 2008, for instance, the fund launched a high-profile campaign against Japan’s Electric Power Development Co, or J-Power, to try to force the energy producer to raise its dividend. The hedge fund ultimately sold its stake in J-Power after Japan’s government stepped in to block TCI’s bid to take more control.<\/p>\n