Hedge Funds

Chanos backs Currahee with assets

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Douglas Millett's Currahee Capital Management is getting a strong endorsement from former employer Kynikos Associates. Not only is Kynikos making an investment in the management company of Currahee Capital, but Kynikos President Jim Chanos is also making a personal investment in Millett's soon-to-be-launched pair of funds.

The White Plains, New York-based firm has built out an 11-strong team and has already been generating a buzz amongst investors. The firm is said to have received capital indications between $150-$300 million. The domestic and offshore versions of its long/short strategy will begin trading July 1.

Millett's new firm has also