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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.