Tuesday, 29 July 2014
Last updated 14 hours ago
Sep 5 2007 | 11:08am ET
Well-known hedge fund manager and frequent CNBC commentator Seth Tobias was found dead in his family’s swimming pool yesterday, according to police in Juniper, Fla.
The body of 44-year-old Tobias, a partner of hedge fund Circle T Partners, was found in the pool of his mansion near Palm Beach by his wife shortly after midnight.
The cause of death has not yet been revealed, but in a phone interview with Bloomberg today, Jupiter police Sergeant Scott Pascarella said ``It's not common for someone that age to just die.''
According to Spence Tobias, Seth’s brother, the family has a history of coronary disease. He told Bloomberg that he believed the cause of death was a heart attack.
Circle T has $200 million in assets under management. The activist hedge fund firm has been seeking control of computer services company QSGI. That firm’s stock fell 18% yesterday after news of Tobias' death spread.
Marc Sherman, chairman and chief executive of QSGI, commented, “We are saddened by the death of Seth Tobias, who was a personal friend. As one of our largest shareholders, he brought tremendous insight and was a major asset to the company. We would like to wish our condolences to his family and colleagues at Tobias Bros. We will deeply miss him.”
Tobias founded Circle T Partners in 1996 after five years as portfolio manager and equity trader at JRO Associates. He began his Wall Street career in 1987 as a proprietary-futures trader at Moseley Securities. From 1988 through 1991, Tobias worked at New York & Foreign Securities as the assistant trader to the firm's head of block trading and was responsible for account coverage for several New York based hedge funds.
Funeral services have not been announced.
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…