A hedge fund backed by industry legend Stan Druckenmiller has made a big hire

REUTERS/Brendan McDermid

A new hedge fund that has the backing of legendary investor Stan Druckenmiller has made a big hire.

Castle Hook Partners hired Sean Rhatigan as its chief financial officer, and he started this week, according to two people familiar with the matter.

Rhatigan worked at Och-Ziff Capital for 16 years and left in December as its executive managing director responsible for accounting and operations, according to a LinkedIn profile.

Och-Ziff is one of the hedge fund industry's major players and manages about $39 billion, according to its website.

David Rogers and Josh Donfeld, who left George Soros' family office earlier this year, are launching Castle Hook, based in New York. Druckenmiller is planning to back the launch in his second-biggest investment in a hedge fund.

His biggest investment was in Zach Schreiber's PointState Capital, with $1 billion. Druckenmiller, through a spokesman, has previously declined to say how much he would be backing Castle Hook.

The firm plans to launch in the fourth quarter of this year or first quarter of 2017, Business Insider previously reported. It's one of several highly anticipated launches on the horizon competing in a difficult fund-raising environment.

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