Chris Shumway to investors: I’m not going anywhere
By Lawrence Delevingne
Fri Dec 3, 2010
In a letter sent earlier this week, Shumway clarified the firm’s new leadership structure and gave investors more time to approve changes announced last month.
Chris Shumway moved to mollify confused Shumway Capital
Partners investors concerned the fund could further suffer
because of recently announced management changes. The hedge
fund founder sent a letter to investors November 30 with a
clear message: he will continue to be actively involved in
The investor confusion came from a November 15 letter
explaining that Shumway was handing his role of chief
investment officer and sole portfolio manager to firm veteran
and former equities head Tom Wilcox on January 1, 2011. Shumway
said he would continue to serve as the firm's chief executive
officer and chairman of the management committee. Per a "key
man" clause in the limited partnership agreement, investors
were told they had until December 3 to submit redemption...
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