Friday, 1 August 2014
Last updated 2 hours ago
Jul 17 2012 | 11:32am ET
Traxis Partners will survive the death of its founder, the firm said.
"Traxis remains fully functional, looking after the portfolio of investors," managing partner Amer Bisat told Bloomberg News yesterday. "The leadership has been taken over by the three remaining partners."
Traxis founder Barton Biggs, the former chief global strategist at Morgan Stanley, died on Saturday at 79 of a complication from a bacterial infection. The hedge fund had informed clients five days before Biggs' death that he had been hospitalized with a "strong but treatable" infection and that doctors were optimistic about his recovery.
Greenwich, Conn.-based Traxis has five funds, only one of which was run by Biggs. Bloomberg reports that no decision has been made on Biggs' Global Equity Macro Fund's future. The fund offers quarterly redemptions with 30 days' notice.
"The legacy of Barton is that he built a very deep and successful platform that comprises many individuals with decades of experience in the industry and a distinguished record," Bisat said.
Biggs founded the $1.2 billion hedge fund in 2003 with two other Morgan Stanley alumni, Cyril Moulle-Berteaux and Madhav Dhar, neither of whom is still with Traxis. Bisat joined the firm in 2007 from Rubicon Fund Management. The firm's other two managing partners, Andy Skov and Krishen Sud, joined Traxis four years ago and last year, respectively. Skov is a Morgan Stanley alum like Biggs and Bisat a founder of Point Reyes Capital, while Sud is a co-founder of Galleon Group. Sud joined Traxis when he merged his post-Galleon effort, Sivik Global Healthcare Partners, into Traxis.