Paul Singer isn’t going anywhere, but he’s created a board of directors and added provisions to protect investors in the event of his departure. The firm is also preparing to raise more capital.Paul Singer has no immediate plans to step back from a more than three-decade career in investing, but his $17.1 billion hedge fund firm, Elliott Management Corporation, continues its succession planning just in case.
Elliott introduced a board of directors that would take effect and assume control should Singer no longer run the firm, “whether by death, incapacity, or otherwise,” according to a letter sent to investors Monday, June 20. As currently planned, the board will have four members. Three of them are long-time Elliott employees and equity partners: Jonathan Pollock, co-chief investment officer; Brian