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Benedicte Gravrand, Opalesque London:

Michael (Mike) Kelly, who has been in the hedge fund industry for 15 years, is the CIO and Co-CEO of FrontPoint Partners LLC, a hedge fund management firm which also supplies seed capital and infrastructure support to various hedge fund teams, and is headquartered in Greenwich, Connecticut, with offices in New York and London.

FrontPoint Partners was founded in November of 2000 by members of Tiger Management (where Kelly had worked before joining FrontPoint in 2001) and Soros Fund Management. Co-founder Phil Duff, a lifelong outdoorsman, named FrontPoint after a mountain-climbing technique used to scale steep ice faces with crampons - he now runs Duff Capital Advisors, which is also based in Greenwich.

Morgan Stanley bought FrontPoint in 2006 for $400m. Therefore the firm might be the target of a new proposal which President Obama put forward last week, to block bank holding companies from owning or investing in hedge funds and private equity funds. Things may change as top executives of FrontPoint on Thursday made plans to discuss the possibility of purchasing their business back from the securities firm, according to WSJ.com.

The firm currently runs about $7bn in 16 investment strategies, including a quant equity arb, distressed security, glo......................

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