Launches & Closures

Ex-Mellon duo launch event-driven advisory firm Carduus Capital


Scott MacDonald and Derek Stewart, the former figureheads of Mellon Global Alternative Investments, have set up their own London-based hedge fund advisory firm called Carduus Capital. Reflecting the duo’s area of expertise, the new outfit will specialise in event-driven and relative value strategies, with a focus on corporate credit.

Carduus will offer a range of services to investors looking to allocate to hedge funds, with specific emphasis on addressing the demand for reduced fees and increased accountability, transparency and corporate governance.

The firm will offer advice on single-manager investments, and will also provide customised multi-manager portfolios — available either as