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May 08, 2019  

End of the Line for PhaseCapital

PhaseCapital, a once-$300 million fund shop that enjoyed backing from two prominent investors, is out of business.The New York firm withdrew its SEC registration last month after chief executive Michael DePalma, chief investment officer Michael Ning and portfolio manager Tim Gramatovich accepted positions at other firms. After liquidating a global-macro fund and a mutual fund in December, PhaseCapital’s only remaining business was a...

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