Ex-Ivy Chief Joins Ex-Janus Chief's Hedge, Mutual Fund Firm

Nov 30 2010 | 12:34pm ET

Former Ivy Asset Management CEO Sean Simon has been named president of Black Capital Management.

Simon "will be responsible for business strategy, marketing and operations" at the firm, founder Gary Black wrote in an e-mail to his contacts, according to Pensions & Investments. Black founded the firm, which plans to offer a suite of products including hedge funds, mutual funds, separately managed accounts and exchange-traded funds beginning next year.

Simon is Black's first president. He left Ivy last January, just before the fund of hedge funds' parent, Bank of New York Mellon, chose to shutter it as part of a consolidation of its three funds of funds. Ivy, which was founded by Simon's father, was battered by the Bernard Madoff scandal, which cost its investors more than $100 million.

Black is the former CEO of mutual fund giant Janus Capital Group.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...