Following the farewell of their commander-in-chief, Stanley Druckenmiller, who now gets to play golf and manage a family office, the former members of Team Duquesne have reassembled at the newly formed Point State Capital, with Sean Cullinan serving as CEO and 6 of the old boys taking roles as portfolio managers. Druckenmiller tossed the new shop about $1 billion (without the strings of an ownership stake) and the rest of the money comes from investors in the old fund. [Bloomberg]
Duquesne Capital
When Stanley Druckenmiller announced earlier this week that he’d be shuttering his fund, Duquense Capital, and retiring from the business after 30 years, many wondered which luminary would be next to pack it in. Steve Cohen? Paul Tudor Jones? Larry Robbins? So far, just one: Paolo Pellegrini. Continue reading »
The aforementioned good-bye letter.
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