Lansdowne Co-Founder Ruddock To Retire

Mar 5 2013 | 11:21am ET

Lansdowne Partners co-founder and CEO Paul Ruddock will step down from the hedge fund he set up 15 years ago this summer.

Ruddock will retire at the end of June, he said yesterday. The 54-year-old millionaire, who was knighted last year for his contributions to the arts, will focus on his the arts and philanthropy.

"The firm is at a very good place," Ruddock told Bloomberg News. "The amount of assets are stable and we've had very little turnover in staff. Clearly, if I didn't feel that, I wouldn't be stepping down."

Lansdowne said it would begin searching for a successor to Ruddock as CEO. It added that Ruddock's departure would not affect the management of the firm's funds, since Ruddock handled the operational end of the US$12.4 billion hedge fund, unlike co-founder Steven Heinz, who is head of its European strategy.

Lansdowne's largest fund, Developed Markets, returned 18% last year, an impressive turnaround following its worst-ever year in 2011, when it dropped 20%. That fund is managed by Merrill Lynch veterans Stuart Roden and Peter Davies, and is up 7.5% this year.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Strippers Accused Of Robbing Hedge-Fund Manager Face Jail

Oct 20 2014 | 9:20am ET

A group of alleged stripper-thieves—whose victims include a hedge-fund manager...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.