Hedge fund DE Shaw is looking to bolster its nascent private equity operation by hiring top buyout practitioners and lawyers, in the latest indication of convergence in alternative assets.

The hedge fund, which manages $23.5bn (€17.9bn), began working on plans last year to start private equity operations. In July, the firm hired Bryan Martin and Richard Aube from JP Morgan in order to get the effort off the ground.

Heidi Moore in New York

JP Morgan

Morgan Stanley

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DE Shaw takes on buyout rivals

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