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Whitney Hedge Fund Wins Backing From BlueCrest Principals

Meredith Whitney, the Wall Street analyst who forecast a flood of U.S. municipal-bond defaults in 2010 that hasn’t materialized, won backing from billionaire Michael Platt and other partners at BlueCrest Capital Management LLP for her new hedge fund-firm, according to a fund presentation.

Whitney’s Kenbelle Capital LP started trading on Nov. 1 with about $50 million from Bluecrest partners and other investors, said the presentation, a copy of which was obtained by Bloomberg News. Kenbelle, which invests in U.S. equities, is aiming for returns of 12 percent to 17 percent annually.