Friday, 28 October 2016
Last updated 42 min ago
Dec 3 2012 | 12:34pm ET
Another hedge fund manager is calling it quits in a year that has seen a wave of high-profile retirements from the industry.
Kingsford Capital Management co-founder David Scially will step down from the San Francisco-based hedge fund at the end of the year. Scially, who made his name as a short-seller, set up the firm with Mike Wilkins in 2001.
According to Reuters, Kingsford has had some time to prepare for Scially's exit. Scially manages a substantial chunk of Kingsford's assets under management, which were once at $2 billion, although it is unclear how much the firm manages today.
Scially made the decision after taking a break this summer. He plans to spend more time with his family.
Scially set Kingsford up with Wilkins after a stint at Cambridge, Mass.-based Off Wall Street Consulting Group.
He joins a large number of well-known hedge fund managers hanging it up in 2012. During the year, Brevan Howard Asset Management co-founder Chris Rokos, Centaurus Capital's John Arnold, Farallon Capital Management founder Thomas Steyer, Moore Capital Management's Greg Coffey and John W. Henry all announced their plans to leave the business.