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Komfie Manalo, Opalesque Asia: John Eckerson, co-founder and co-chief investment officer at Claren Road Management, will be leaving the firm, which is dealing with poor performance and redemption requests reported The Wall Street Journal.
In a memo to clients released on Monday, Claren Road, a hedge fund owned by Carlyle Group, said that the firm’s co-chief investment officer, Sean Fahey, would be assuming the role to be vacated by Eckerson. The memo further stated that the hedge fund’s other co-founders Brian Riano, Fahey and Albert Marino will remain in the firm. Eckerson, 50, is retiring because he wants to spend more time with his family. He will remain an investor in Claren Road’s funds.
The exit of Eckerson in Claren Road is the latest setback for Carlyle. In July, investment consultant Cliffwater, which has clients with about $800 million invested in Carlyle group, advised its clients to pull out their money from the firm. And in August, investors in Claren Road requested to withdraw $2 billion of their money from the firm’s two main funds in the third quarter. The red...................... To view our full article Click here
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