Leeward Takes 15% Stake in DuelEx

Date: Monday, September 25, 2006
Author: HFN Daily Report

Leeward Hedge Funds Inc. now controls nearly 15% of DuelEx Energy, the Toronto-based investment firm said Thursday.

Leeward now has direction over nearly 6.9 million shares of the company, or about 14.9% of its shares outstanding. It acquired the majority of them on May 31.

The fund company said it acquired the shares for investment purposes only and has no intention of making a takeover bid.

Leeward manages five hedge funds and several managed account programs and is registered with the Securities and Exchange Commission in the United States. Its goal is to provide absolute returns in all market environments. It launched its first fund in 2001.