Citadel Vet Russell To Shutter Hedge Fund

Sep 7 2012 | 11:23am ET

Joseph Russell, a former top executive at Citadel Investment Group, will close his two-year-old hedge fund at the end of the year.

Russell has already returned some of the $500 million in assets that Bell Point Capital Management's flagship managed. The New York-based firm reached that level, a record high for the fund, earlier this year.

Russell, 49, plans to retire after winding down Bell Point, Bloomberg News reports. He becomes the latest hedge fund manager to do so in recent months that have seen Centaurus Capital's John Arnold, George Soros and Carl Icahn return outside capital.

It is unclear why Russell is leaving the industry so soon after founding Bell Point, in 2010. The fund is up 4.5% this year.

Bell Point employed about 20, including John DiRocco, the former CFO at Citadel who served as Bell Point's chief operating officer. His plans are unclear.

Russell was head of U.S. fundamental credit at Citadel. He left the hedge fund giant in 2008.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note