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Partner Fund pulls back on credit

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Head of credit Dan Moses is leaving; may launch new firm.

Partner Fund Management, the $4.9 billion San Francisco firm founded by former Andor Capital Management chief investment officer Chris James, has pulled back its credit investments and is no longer managing a distinct credit portfolio, according to people familiar with the situation. The decision resulted in a mutual agreement that the firm's head of credit, Daniel Moses, would leave.

The firm has been equity focused since it began in 2004 but has always had some credit investments. It expanded those non-equity positions by hiring Moses as head of credit in June 2010 and began a dedicated