Launches & Closures Hedge Funds

Former Deephaven chief plots new launch


Colin Smith has joined with other Deephaven alumni to offer a new event-driven hedge fund.

Colin Smith, one of the original founders of Deephaven Capital Management, is planning to launch a new event-driven hedge fund. Concordance Capital Management will be based in Minneapolis, Minn., and is slated to open in the first quarter.

The fund will be mostly equity based, but there will be some credit exposure as well. It will employ a variety of opportunistic and catalyst driven strategies, including merger arbitrage. A spokesman for Smith declined to comment.

The firm has already hired five or six people and will launch with as many as 12. Smith has raised about $100 million from