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CQS Spins Off Equity Hedge-Fund Arm as Hintze Goes Back to Roots

  • Head of equities Paul Graham will lead new entity as CEO
  • Hintze to focus on core credit strategies battered by virus
Michael Hintze
Michael HintzePhotographer: Kyle Grillot/Bloomberg

Billionaire Michael Hintze’s CQS is spinning off its nascent equities hedge-fund business into a stand-alone firm as it focuses on core credit strategies that have been hammered by the pandemic.

Paul Graham, the firm’s head of equities, will leave CQS to lead the spinoff as chief executive officer, according to people with knowledge of the matter. CQS will take an equity stake in the business and allocate some capital to it, said the people, asking not to be identified because the information is private.