Reuters – Hedge fund firm Duff Capital Advisors, launched last year to help pension funds, endowments and insurers meet long-term funding obligations, laid off most of its staff, a person familiar with the matter said on Thursday.

The company remains in business and is now focusing mostly on providing risk analysis and advice, said the person who was not authorized to speak about the matter publicly. Previously Duff Capital also offered hedge fund products.

The company once had about 100 people working for it.

Hedge fund industry veteran Phil Duff, a former chief financial officer at Morgan Stanley and top executive at famous hedge fund firm Tiger Management, set up Duff Capital Advisors in March 2008, shortly before the financial crisis exploded. He launched the firm only a few months after having sold his previous firm, FrontPoint Partners, to Morgan Stanley.

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