Fund launches & closures Hedge Funds

Duff Capital hits the brakes

by

Duff Capital Advisors, the Greenwich, Conn.-based hedge fund platform launched by Phil Duff earlier this year, is finding it far tougher to raise money than anticipated and has been forced to lay off workers and scale back plans.

Duff Capital started in March with $500 million from New York private equity firm Lindsay Goldberg and had hoped to raise up to another billion dollars in seed money to launch its operations by now. But the firm has been unable to land major new investors and laid off workers about a month ago to cut expenses.

An individual close to