Partner exits activist hedge fund firm TCI
LONDON (Reuters) - One of the partners at activist hedge fund firm TCI (The Children's Investment Fund) has quit, the latest in a string of departures from the high-profile firm since the credit crisis.
Masroor Siddiqui, who was responsible for global investments in credit and equities at the London-based firm, according to the website of investment company K1 Ventures where he is a director, ceased to be a partner at TCI just over two weeks ago, a regulatory filing showed.
A TCI employee said Siddiqui had left the firm, but the firm declined to give further details.
Siddiqui, a former Goldman Sachs (GS.N) banker and fund manager at Putnam, joined TCI in 2009 from multi-strategy hedge fund firm Canyon Capital Partners, where he was head of European business.
His departure from TCI follows a number of exits from the firm, including John Ho, who led TCI's Asia business, and founder and partner Patrick Degorce in 2009.
Media-shy TCI, which hit the headlines in 2007 for its role in the sale of Dutch bank ABN Amro, was one of London's best-performing hedge funds prior to the credit crisis, returning more than 40 percent in 2004 and 2005 and just under 40 percent in 2006 and 2007, according to figures seen by Reuters.
However, it ran into trouble in a tussle with Japanese electricity firm J-Power, when it lost a reported $130 million, helping push its main fund to a 40 percent loss in 2008. The fund is down 3.1 percent this year to end-September.
(Reporting by Laurence Fletcher. Editing by Chris Vellacott and Will Waterman)
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon |
- Target probe eyes overseas hackers; stolen cards for sale online
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter