Hedge Funds

Deephaven creates new COO role

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Deephaven Capital Management, a $3.8 billion multistrategy fund, has promoted Scott Nelson to chief operating officer. The new role signals a move to further institutionalize operations as Deephaven aims to increase its asset base on the back of strong performance.

Nelson joined Deephaven in January from Provident Advisors, a Wayzata, Minn., hedge fund firm, where he was COO. Prior to Provident, Nelson was at Allianz Dresdner Asset Management, where as an executive vice president he headed the single-strategy hedge fund business.

Deephaven hired Nelson as a managing director in charge of client relations. His new responsibilities as COO include