Ex-Deutsche trader strikes $50m deal for new hedge fund

Fund receives startup cash from Grosvenor Capital Management in exchange for cut of fees

The former head of Deutsche Bank’s residential mortgage-backed securities trading group has struck a deal with Grosvenor Capital Management for $50 million in startup cash in exchange for a cut of fees earned from his new hedge fund.

Troy Dixon, who managed a group of 70 at Deutsche Bank until resigning in 2013, got off the ground with his new structured-credit-focused Hollis Park Partners last month, people familiar with the firm said.

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