David Cleary, CIO and partner at investment business Crow Point Asset Management, is spinning out of the fund with two global macro strategies. Under the newly funded entity, Timber Point Capital Management, Cleary and his partners will manage two strategies, previously under the wing of Crow Point. The firm will start with $100m in AUM, said Cleary. He is aiming to raise another $100m in capital within the year. The firm currently has between $5–$10m in additional commitments.