Ex-Tudor manager sets up own Singapore shop: Sources
(REUTERS) - A former portfolio manager at Tudor Investment Corp who oversaw energy investing from Singapore for the giant hedge fund is setting up his own business with a handful of former colleagues, according to several people familiar with the matter.
Mr Andrew McMillan is the latest among a growing number of hedge fund industry executives pursuing dreams to launch their own funds by spinning out from former employers.
One source said the split was friendly between Mr McMillan and Mr Paul Tudor Jones' US$11.6 billion (S$14.3 billion) firm, where the fund manager had worked for a decade since joining from Morgan Stanley where he had specialised in power and gas trading. Mr McMillan will take five ex-Tudor people with him.
Tudor partners are expected to invest with Mr McMillan when he prepares his own fund, said the source.