Viking Global Investors’ co-chief investment officer is taking a break, and the hedge fund is taking the opportunity to reshuffle its top ranks.
Tom Purcell is taking a “well-deserved sabbatical for the next six months,” Viking told investors last week. His co-CIO, Dan Sundheim, “is now sole CIO and manager of the Central Portfolio.”
But Viking isn’t stopping there: The firm announced that it had reorganized its investment team, charging six portfolio managers to work with Sundheim to identify the firm’s best ideas, Reuters reports. Jeff Busconi, Paul Enright, Ben Jacobs, Ning Jin, Hani Sabbagh and Scott Zinober have been named to that committee.
“It’s exciting that occasional realignments allow us to recognize proven investors and charge younger talent to contribute in new ways,” firm founder Andreas Halvorsen wrote.
Purcell, who plans to use his sabbatical to spend more time with his family, will remain on Viking’s executive and management committees.
Viking also told investors that it had clawed back some of its early-year losses. The firm returned 6.6% in the first half after a 1.1% rise in June.