Alice Ruth, the former chief investment officer of the $5 billion Gordon and Betty Moore Foundation, has parted ways with JMP Asset Management, just six months after joining the firm to run a hedge fund.
Ruth has been managing the firm's Harvest Consumer Partners Fund, which invests in long/short consumer equity opportunities in the U.S. The split between Ruth and the firm is amicable and JMP will continue to manage the fund.
San Francisco-based JMP also runs two other single-manager funds. Harvest Opportunity Partners II, is a market neutral fund run by JMP founder Joe Jolson. Harvest Value Income Plus