(Reuters) – Hedge fund manager Quentin Koffey, who joined D.E. Shaw & Co two years ago from Elliott Management Corp to lead its shareholder activism strategy, has left to join Senator Investment Group LP, the firms told Reuters on Thursday. The move is a setback for D.E. Shaw, which is seeking to emulate Elliott as a generalist hedge fund with strong activist leanings, advocating for major changes at companies, such as putting themselves up for sale. Some funds are using activism to distinguish themselves with strategies that cannot be replaced by cheaper index funds, as investors spurn hedge funds with high fees and lackluster returns, pulling out billions from the $3 trillion industry.
D.E. Shaw’s top shareholder activist Koffey leaves hedge fund
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