Icahn Healthcare Manager Plans Hedge Fund

Sep 16 2011 | 4:57am ET

Another Carl Icahn deputy is leaving the legendary corporate raider's nest to found a hedge fund of his own.

Alex Denner, for five years Icahn's right-hand man on matters healthcare, plans to open his new firm by the end of the year, Bloomberg News reports. The move comes just months after Denner and Icahn signed an agreement promising the former a bigger piece of the profit from Icahn Enterprises' investment in Forest Laboratories.

Icahn earlier this year decided to return all outside capital managed by his hedge fund. Last year, the firm's principal executive officer, Keith Meister, launched his hedge fund, Corvex Capital, which has raised almost $500 million.

According to Bloomberg, Icahn may invest in Denner's fund.

Denner joined Icahn in 2006, helping lead a number of activist campaigns against pharmaceutical companies—and serving on the boards of several of them. Prior to working with Icahn, Denner worked at Viking Global Investors and Morgan Stanley.

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