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Druckenmiller Alumni at PointState Are Looking for New Investors

  • Main fund has climbed less than 1% this year through September
  • It will compete with firms including ExodusPoint for clients
Updated on

PointState Capital, the macro hedge fund started by former traders for billionaire Stan Druckenmiller, is looking for new investors as it struggles to rebound from last year’s double-digit loss.

The $6 billion firm’s main SteelMill Fund dropped about 19% in 2018 and has barely made money this year, climbing less than 1% through September, according to people familiar with the firm. PointState has rarely opened to new money since it began trading in 2011.