August 2009
"My decision is solely a personal one. After fifteen years of being singularly focused on building and managing XYZ Fund, I believe it is time to reassess my future. I intend to spend more time with my family, pursue my philanthropic interests and establish a family office to manage my own capital and charitable foundation."
This decision to return over USD 3 Billion to investors represents another large firm choosing to liquidate Vs. deal with the ever changing landscape in hedge fund land. Simple questions should come to mind relating to rationale and timing...
Thoughts anyone?
Tuesday, August 11, 2009
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Robert,
ReplyDeleteIn times such as these when funds have been shuttered or are years form returning to highwater marks, it seems reasonable someone who is sitting on fortunate made in the good years would walk away and pursue something different. Not withstanding the potential gains to be made in the next few years, it is a natural break.
Personally, I am using this opportunity to enter the market as I expect the investments made in the next 5-10 years will be the best of my lifetime. I look forward to capitalizing on the vast money likley to be redeployed in the coming 36 months and being in a position to look at philanthropy as a new endeavor when the next downturn hits.
Best,
David drbergerson@gmail.com