Hedge Funds

John W. Henry & Co. hires business development chief

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The once-mighty managed futures firm continues to rebuild.

John W. Henry & Company has hired a new head of business development, Michael Elias, in hopes of continuing the firm’s comeback. The managed futures shop, which is headquartered in Boca Raton, Fla.,  now runs $301 million as of July, a long way from the $3.5 billion it managed in 2005.

Elias joined JWH from the Family Office Institute in West Palm Beach, Fla., where he was a partner advising wealthy Americans and Asians on manager selection and portfolio construction.

Elias’ hire is part of JWH’s recent push to raise money from institutional investors. In January 2010, the then-$270 million firm launched