Wed, May 4, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n