Raptor Manager To Leave Tudor, Start Own Firm

Aug 7 2008 | 8:53am ET

One of the most successful partnerships in hedge fund history is coming to an end with the departure of James Pallotta from Tudor Investment Corp.

The well-known stock-picker is leaving the Connecticut hedge fund giant, which has $18 billion in assets under management, to form his own firm, as he is taking the money he manages with him, according to a letter to investors.

The Wall Street Journal reports that the Aug. 6 letter told clients that Pallotta’s $5 billion Raptor Global Fund and his Altar Rock funds will join him at the new firm. He will also continue to invest for Tudor’s flagship BVI Global Fund.

Pallotta’s new firm—it is unclear what it will be called—will debut next year. Clients were told that more information “on Jim’s new business and on operational aspects of the transition” would come “as decisions are made and as more details are available.”

The letter added that the 15-year Tudor veteran may expand into private equity at his new firm.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR