WEST PALM BEACH, FL (HedgeCo.Net) – An executive manager with the veteran fund manager George Soros has announced he is leaving to form his own hedge fund management firm. Jacob Goldfield, Soros FundManagement�s chief investment officer recruited last year, has resigned according to a company memo.
Goldfield was a former partner at Goldman Sachs and was hired at Soros by the fund’s chief executive officer, Mark Schwartz. Goldfield was a Harvard-trained lawyer, and he was a successful trader at Goldman Sachs. He will continue to manage some assets for Soros however. According to company reports, Goldfield will be replaced by George Soros� son, Robert Soros.
Many fund managers have been establishing their own hedge fund management partnerships. Although such tendency has decreased in recent times, it is nonetheless a continuing phenomenon because investor interest in hedge funds has continued to grow both domestically and globally. Total assets managed by hedge funds globally have exceeded US$1 trillion mark. No details have been provided regarding the new portfolio to be launched by Goldfield; the time for such launching was not announced.
Soros fund management was at one point the largest hedge fund manager in the world, managing over $20 billion. The company now oversees about $8.5 billion in investor assets. In 2003, Soros funds returned about 14.8% to its investors.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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