Sat, May 26, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Baupost Group reports positive Q3 returns, co-portfolio manager to start family office

Tuesday, October 30, 2012

amb
Herb Wagner
Bailey McCann, Opalesque New York:

Herb Wagner, Co-Portfolio Manager at Boston-based hedge fund Baupost Group has announced he will be leaving to start his own family office and will remain a client of the firm. In a webcast for client scheduled tomorrow, Wagner and firm principal Seth Klarman will take questions about the transition, this will be followed by the regular portfolio overview typically conducted on these calls. Jim Mooney another executive at Baupost is being promoted within the firm. Mooney has been with the firm since 2000 and will become head of Baupost's Public Investment Group.

Mooney is currently a member of the management committee in Boston and is also the head of the firm's London office. Klarman said in a letter sent to clients that he doesn't anticipate finding a replacement for Wagner in the near future. All investment decisions were made together by the team over Wagner's tenure and Klarman indicated that he didn't expect the departure to have a lasting effect on the investments Baupost is currently pursuing. "My intense focus on the portfolio has remained constant since the firm was founded, and will remain so in the future," he wrote.

As participants in our recent Opalesque Connecticut Roundtable noted, more and more successful hedge fund managers and executives are moving on to start their own family offices, investing i......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven