Monday, 25 May 2015
Last updated 3 days ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…