Hedge Funds

Former Soros arb manager taking in money

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Offering fresh talent with little start-up risk, a merger arbitrage trader that built his team at Soros Fund Management is accepting outside capital for the first time.

Mike Donatelli and his New York-based EAC Partners are raising just $200 million for a new fund that they will run alongside a substantial separate account they run for an unnamed investor thought to be Soros.

Donatelli has run money for Soros for four years, but his team had operated as a separate company within the Soros organization since September 2003. Last August, the group decamped to their own offices.

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