Monday, 30 March 2015
Last updated 36 min 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.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…