An investing legend is backing one of the most high-profile hedge fund launches of the year

REUTERS/Brendan McDermid

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One of the hedge fund industry's legendary investors is backing one of the most high-profile hedge fund launches of the year.

Stanley Druckenmiller is backing Castle Hook Partners, a hedge fund launched by two former Soros traders. 

It will be Druckenmiller's biggest investment since he backed PointState Capital with $1 billion in 2014, according to a person familiar with the matter.

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