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

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note