Tuesday, 29 July 2014
Last updated 1 hour ago
Oct 13 2011 | 2:22am ET
Hedge fund managers David Murrin and Susan Payne are splitting up—and splitting their businesses between them.
While other hedge fund divorces, notably that of IKOS Asset Management's Elena Ambrosiadou and Martin Coward, have devolved into acrimonious court battles, that of Murrin and Payne seems to be the very definition of amicable. Murrin will keep Emergent Asset Management in the divorce, and Payne Emvest, where she runs the African Agriland Fund.
To complete the divvying up of marital companies, Payne has resigned as CEO of Emergent and Murrin from Emvest's board, Reuters reports. Emergent's Alfred Vinton, who held a 5% stake in the firm, has also left.
"They've had an amicable separation," a spokesman for Emergent said. "They've decided to divide up the businesses."
Murrin, now the sole owner of Emergent, said that he will put together a new board of directors as he mulls new projects for the London-based firm.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…