Launches & Closures Hedge Funds People Moves

Two PMs leave Taconic to form value equity shop


Their departure is a first for the 13-year-old event-driven firm.

   Chris Delong
Portfolio managers Adam Fox and Sam Elder are leaving $7.5 billion Taconic Capital Advisors to launch a fundamental equity investing hedge fund, the first time in the firm’s 13-year history that two senior members have departed to start their own shop.

Event-driven Taconic, founded by Ken Brody and Frank Brosens in 1999, announced the departures today in a letter to investors.

“The structure of our firm has not only created an economic meritocracy, but also a unique culture of collaboration, respect, and inclusion that we highly value. It has led to unparalleled stability, where