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

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of