Thursday, 30 July 2015
Last updated 12 hours ago
Dec 13 2012 | 12:47pm ET
Regiment Capital Advisors founder Tim Peterson announced his retirement and succession plans at the $7 billion hedge fund.
A former high-yield bond trader for Harvard University's endowment, Peterson will stop managing money at Boston-based Regiment in the middle of 2014. The 51-year-old will remain with the credit hedge fund in a mentoring role, he said.
Mark Brostowski and Bill Heffron will continue to manage Regiment's remaining funds—it sold its $2 billion special situations funds and direct-lending unit to TCW Group last week—while Chris Kaster and Thomas Sorbo will continue to run the firm's business operations.
Regiment spokeswoman Diana Pisciotta told Bloomberg News that the proceeds from the special situations sale will help Peterson to redistribute equity to other members of the firm.
Peterson founded Regiment in 1999.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…