Hedge Funds

Aquila expands line-up and key new staffers

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Aquila Capital Management run by Neal Berger, formerly a principal at the $3 billion Millennium Partners, is adding staffers and drawing up plans for an offshore twin for its US fund expected to begin trading in late April or early May.

One recent recruit is Russell Lavelle, an arbitrage specialist who departed Millennium Partners in early March. The other new addition is David Roy Smith who was previously trading his own accounts focused on mutual-fund timing.

The new staffers brings the tally to eight at Aquila, which was formed last summer and began trading its first fund in late