Fri, May 29, 2015
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. Opalesque Exclusive: New TMT hedge fund adopts the long-term approach[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Dr

  2. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Icelandís failed banks face a tax that targets the lendersí estates as the government prepares to unveil its plan for exiting capital controls in t

  3. Investing - Nelson Peltzís Trian Fund Management reduces position in Legg Mason, Biotech investors up big amid bubble talk, Hedge funds increase exposure in healthcare[more]

    Nelson Peltzís Trian Fund Management reduces position in Legg Mason From Octafinance.com: Trian Fund Management has filled a SC 13D/A form regarding Legg Mason, Inc. Per Nelson Peltzís Trian Fund Managementís filing, the filler reported decreased stake in the company by -11.05% to 11,03

  4. Opalesque Exclusive: BMO launches multi-strat '40 act fund[more]

    Bailey McCann, Opalesque New York: As we reach new market highs, investors are looking for a way to diversify and protect their portfolios from a potential market correction. Liquid alternatives are rapidly gaining ground as a critical tool for investors to use to mitigate downside risk. The BMO

  5. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AMís latest Weekly Briefing, in t

 

banner