Saturday, 28 May 2016
Last updated 22 hours ago
Mar 4 2014 | 10:00am ET
A BlackRock hedge fund manager is taking a leave of absence from his £2.4 billion portfolio.
Richard Plackett’s six-month sabbatical begins on April 1. In his absence, the co-managers of his funds will be in charge.
Plackett runs BlackRock’s £2.1 billion U.K. Special Situations Fund with Roland Arnold, as well as several smaller portfolios, including the Hedge Selector Investment Trust. That vehicle will be overseen by U.K. Emerging Companies Hedge Fund co-manager Ralph Cox in Plackett’s absence.
It is unclear what prompted Plackett’s sabbatical. He started at Merrill Lynch Investment Managers—acquired by BlackRock eight years ago—in 2002.
“BlackRock fully supports this request from a long-serving member of the portfolio management team,” the firm said. “Roland Arnold, co-manager of the BlackRock Special Situations fund since 2012, will continue to manage the fund during Richard’s sabbatical. We look forward to welcoming Richard back in October.”