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

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.