Battered Farallon In Major Restructuring

Mar 15 2010 | 2:14pm ET

Farallon Capital Management, once among the very largest hedge funds in the world, is restructuring following a difficult few years.

Four of the San Francisco-based firm’s senior portfolio managers are leaving, The Wall Street Journal reports, as Farallon moves to focus more on credit and risk arbitrage strategies at the expense of stocks.  In addition, the firm may restructure or sell off its $2.5 billion in real-estate assets.

The $21 billion firm is also moving to centralize its operations, merging its Noonday Asset Management division into Farallon. Noonday, which manages $7 billion, has long been run separately from the parent fund from offices in North Carolina and London.
The firm is saying goodbye to a quartet of stock managers. William Duhamel, Jason Moment, Ashish Pant and Richard Voon are leaving, the firm told investors last week. The four are expected to launch their own hedge fund.

Farallon managed more than $36 billion in 2008, making it the second-largest hedge fund in the world. But the firm suffered its first-ever loss in its 24-year-history that year. The firm announced a succession plan last year, naming co-managing partner Andrew Spokes as founder Thomas Steyer’s second-in-command.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...