Ivory loses three partners despite gains
By Lawrence Delevingne
Fri Jan 4, 2013
COO Steven Baum, CFO Mitchell Pressman and head of marketing John Hill depart.
Turnover at Curtis Macnguyen's Ivory Investment Management
continued at yearend despite a performance comeback.
Macnguyen (Photo: Alpha)
Three partners independently left the Los
Angeles-headquartered firm in December: chief operating officer
Steven Baum, chief financial officer Mitchell Pressman and head
of marketing John Hill.
The departures come despite Ivory's best performance in
three years. The flagship low-beta long/short equity fund
gained about 10.4% net of fees in 2012, according to a person
familiar with the returns. It lost 3.55% in 2011 and rose 2.12%
The firm's Enhanced fund, which employs the flagship
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.