Duff Capital to acquire hedge fund North Sound

Reuters- Investment firm Duff Capital Advisors said on Tuesday it acquired hedge fund group North Sound Capital.

The two firms, both located in Greenwich, Connecticut, did not disclose terms of the deal.

For Duff Capital, which launched in March with the goal of raising between $1 billion and $1.5 billion to seed investment strategies, this marks its second hedge fund investment.

For North Sound Capital, whose assets have shrunk from $2.9 billion in 2006 to $1 billion now, the deal is a chance to join forces with Philip Duff, a Wall Street veteran with a track record of growing investment firms.

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