Emergent's Murrin, Payne Separate, Split Hedge Fund Businesses

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.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of