Wed, Sep 24, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Kenneth D. Brody, co-founder, Taconic Capital Advisors to retire

Wednesday, December 04, 2013

amb
Kenneth D. Brody
Bailey McCann, Opalesque New York:

Kenneth D. Brody, co-­‐founder of Taconic Capital Advisors, a multi-­‐strategy, event-­‐ driven hedge fund, founded in 1999, will retire effective January 1, 2014, according to a letter to investors sent Tuesday. Taconic manages approximately $8.2bn in assets. Brody will remain a principal, significant investor and advisor to the firm.

"I have been reflecting on the next phase of my life and have decided I want to spend more time working directly with non-profit organizations I strongly support that are concerned with the mental and physical well-being of young people," Brody wrote in the letter. "This is the right time for me to step back and let the great team we have assembled at Taconic, led by Frank (Brosens), to step up and take over."

According to the letter, the transition plan has been in the works for some time. The firm remains confident in its ability to perform and the opportunity set it invests in. The letter also notes that the co-founders have been working to "deepen" their investment teams in both London and New York, as well as adding to the Asia team in Hong Kong.

Brosens and Chris Delong, Taconic's chief investment officer, will continue to lead the firm. The letter notes that some internal promotions have taken place as well, ahead of the announcement. Betsy Keeley was promoted to General Counsel, Alyssa Yavner to Chief Financial Officer, and Alexandra Grigos to Director of Operatio......................

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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Outlook - Julian Robertson: There are two bubbles that can bite us[more]

    From Businessinsider.com: Legendary hedge fund manager Julian Robertson gave a warning about two bubbles that could "bite us" at Bloomberg Market's Most Influential Summit. "I agree with the fact that the economy is definitely getting better. I think the cause of that is two bubbles that will

  3. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  4. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  5. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e