Saturday, 27 August 2016
Last updated 13 hours ago
Jan 11 2012 | 11:27am ET
Paul Touradji has found the "world-class" management team he's been seeking since last year to run the day-to-day affairs of his commodities hedge fund.
Touradji Capital Management named Peter Borish CEO and Mark Friedman director of trading and operations. The moves follow the exits last year of CFO Tom Dwan and Sang Lee, president and chief operating officer, and will allow Touradji himself to return to full-time trading.
Touradji's flagship lost 14% last year, The Wall Street Journal reports, and assets under management fell from $1.6 billion to $1 billion after Touradji gave clients an early redemption opportunity in September.
Borish is a former head of research at Tudor Investment Corp., and Friedman a co-founder of AM Investment Partners. Friedman will serve as Touradji's top deputy; the two men have worked together before.
Touradji is also preparing another move—literally. The seven-year-old firm is preparing to leave its home in Midtown Manhattan, which it shares with other hedge funds founded by Tiger Management alumni, to new digs in the city's financial district.