Hedge Fund News From HedgeCo.Net


Hedge fund Taconic Capital co-founder Brody to retire

Dec 3 (Reuters) – Kenneth Brody, who co-founded Taconic Capital Advisors LP after spending decades at Goldman Sachs, told clients on Tuesday that he plans to retire from day-to-day management at the $8.2 billion hedge fund at the end of the year.

Brody, 70, co-founded the multi-strategy hedge fund in 1999 with Frank Brosens, 56, and said that he will stay on as an advisor and investor, he wrote in a letter sent to clients and seen by Reuters.

Brody’s decision comes at a time a number of hedge fund founders have stepped away from their firms, raising questions among investors about the durability of the businesses and whether they can survive beyond a founder’s departure.

Taconic said it has been planning for Brody’s departure and that Brody’s co-founder, Brosens, together with Chief Investment Officer Chris DeLong, will continue to oversee the investment team at the New York-based fund.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply