Ivory loses three partners despite gains
January 04, 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.
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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% in 2010.
The firm's Enhanced fund, which employs the flagship strategy...
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