Wednesday, 26 April 2017
Last updated 23 hours ago
Oct 9 2008 | 10:57am ET
At least one hedge fund manager is calling it quits for now. Arnab Banerji, the former Landsdowne Partners portfolio manager, has reportedly left the London-based hedge fund shop for greener pastures—literally.
Banerji is leaving the volatile industry to focus on his money-losing garden products company, Imajin, the Financial Times reports
The move led Lansdowne, one of London’s biggest hedge fund managers, last month to allow investors an early exit from its emerging markets fund, which Banerji set up. Most investors chose to leave the fund, cutting its assets from a peak of more than US$500 million, including a large managed account, to about US$50 million.
According to the FT, Imajin’s $17 million annual revenues pale in comparison to the income of hedge fund managers, including those from Landsdowne, which revealed it paid junior staff an average of £269,000 (US$469,467) in 2006. Its partners’ salaries were undisclosed.