A hot new hedge fund backed by investing legend Stan Druckenmiller has made a big hire

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Castle Hook Partners, a new hedge fund started by two former Soros Fund Management executives, just added to its team with a big hire.

Mike Hamill will be head trader at Castle Hook, which has the backing of legendary investor Stan Druckenmiller, according to a person with knowledge of the matter.

Hamill previously held the same role at Mason Capital.

Mason managed about $5.6 billion as of earlier this year, according to Hedge Fund Intelligence's Billion Dollar Club ranking.

Castle Hook plans to launch in the fourth quarter of this year. Castle Hook is run by Josh Donfeld and Dave Rogers, who left Soros's family office earlier this year after disagreeing with Soros' then chief investment officer, Ted Burdick.

Hamill is the fund's second big hire this month, after it brought on Sean Rhatigan as its chief financial officer from Och-Ziff Capital Management.

Druckenmiller has said via a spokesman that his investment in Castle Hook will be his second biggest since PointState Capital in 2011 with $1 billion. Druckenmiller previously declined to specify the figure.

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