Keith Anderson, the former chief investment officer of Soros
Fund Management and a cofounder of BlackRock, is quietly laying
the groundwork for a new global macro fund set to launch early
next year, according to people familiar with his plans.
The as-yet-unnamed fund, which will be initially funded
largely by Anderson with more than $100 million, will be his
first solo foray after a career with two of the industry's
biggest names. He was a co-founder of BlackRock in 1988 and
stayed with the firm for nearly two decades, rising to chief
investment officer of global fixed income before leaving in
late 2007. Though BlackRock told clients Anderson had resigned
to start his own fund, Soros announced in January 2008 that he
had hired him as the new chief investment officer of then-$25.5
billion Soros Fund Management.
Over the subsequent years,
Soros credited Anderson for steering his fund through the
tumult of the financial crisis with a prescient bet that U.K.
interest rates would decline. Performance was mixed: the
flagship Soros Quantum macro fund produced gains of about 8% in
2008, 29% in 2009 and 2.63% in 2010 and was down 6% for 2011
through June when
Soros converted the shop to a family office and returned
money to outside investors. By comparison, the
HedgeFund Intelligence Global Macro Index was up 2.66% in
2008, 6.62% in 2009, 5.39% in 2010, and 0.19% for 2011 through
Under his oversight, the now-$812 million BlackRock Obsidian
gained 29.77% in 2007, compared with an 8.95% rise for the
AR Fixed Income Index (
historical data for the fund are available in the HedgeFund
Despite Anderson's fixed income background, his new fund
will employ a variety of equity and credit instruments, a
person familiar with the plans said. Anderson, who still has an
office at Soros' Manhattan headquarters, is waiting for his
separation agreement to run its course before launching his
Anderson has kept a far lower profile than his former boss.
He was honored
earlier this year by Barbara Walters for supporting the
Ronald McDonald house, a facility for families battling cancer.
He also serves on the Council of Overseers for the Jones School
of Business at Rice University, where he received his MBA in
Anderson was unavailable for comment. A Soros spokesperson
did not immediately respond to a request for comment.