COO Steven Baum, CFO Mitchell Pressman and head of marketing John Hill depart.
|Curtis 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% in 2010.
The firm's Enhanced fund, which employs the