Aston Hill Loses Sood Months After Hedge Fund Acquisition

Nov 2 2010 | 2:40am ET

After just three months, hedge fund manager Ravi Sood has left Aston Hill Financial.

Sood, who in January orchestrated the merger of Lawrence Asset Management, for which he managed funds, and his own hedge fund, Navina Asset Management, sold the latter to Aston Hill in August for C$4.2 million. Now, however, he has left the firm to "pursue other interests."

"We had bought Navina with Ravi onboard, but he has left," Aston Hill CFO Larry Titley told the Globe and Mail. "He has just moved on. We are happy to build up our portfolio managers internally."

That statement is in stark contrast to the one made by Aston Hill this summer, when it said "the primary benefits of the [Navina] acquisition to Aston Hill include the addition of Mr. Sood's unique talents."

Aston Hill said that Jeffrey Burchell would take over management of Sood's funds. He will join the firm later this month from Polar Securities.

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