Wednesday, 31 August 2016
Last updated 10 hours ago
Aug 13 2010 | 11:10am ET
Four months after a public temper-tantrum that ended with an assault charge, Highfields Capital Management founder Richard Grubman is retiring from the hedge fund.
Grubman’s departure was announced at an internal meeting at the Boston-based firm, as well as in a letter to investors. Grubman said he would turn his attention to personal pursuits.
The now-retired Grubman certainly has other things on his mind. In addition to the now-infamous incident where he allegedly threw his car keys at a valet at Boston’s Ritz-Carlton Hotel and Towers, earning him an assault with a deadly weapon charge, Grubman’s wife, Caroline, has been battling breast cancer since last year.
Grubman allegedly had a meltdown after the valet asked him to move his BMW from a residential-only parking area. He was arrested, but his lawyer earlier this month expressed confidence that a deal would be struck with prosecutors. If convicted, Grubman faces up to 10 years in prison.
Jon Jacobson, who co-founded Highfields with Grubman a dozen years ago, will remain at the firm’s helm.