Three senior executives at Deephaven Capital Management, a US hedge fund manager with $4.4bn (â¬3bn) under management, are to buy out 49% of the company from its parent.
Colin Smith, Deephaven's chief executive and chief investment officer, and principals Shailesh Vasundhra and Matt Nunn have exercised an option put in place at the end of 2006 to acquire the stake from New Jersey-based trading group Knight Capital, Deephaven's parent company.
