Reuters – Hedge fund superstar Andreas Halvorsen is putting more trust in his junior portfolio managers. Mr. Halvorsen, who runs the $16.7 billion Viking Global Investors, told clients on Wednesday [April 11] that he recently upped the aggregate credit lines for a quartet of fund managers by 31 percent to $7.2 billion. The move comes less than a month after James Parsons, one of Viking’s most senior managers, left the firm.
“Our next four most experienced portfolio managers, Paul Enright, Ning Jin, Hani Sabbagh and Scott Zinober, are at the center of idea generation,” Mr. Halvorsen wrote, adding that the with more money to spend the group will now be able to “optimally size most of these ideas themselves.” They will now directly control almost 60 percent of the Viking Global Equities fund.
