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.
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.
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.
Derbyshire couldn’t immediately be reached for comment.
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.
