Hedge Funds

Ritchie principal quits, firm starts new unit


David Popovitch, a longtime principal of Ritchie Capital Management, has resigned. Popovitch was most recently a senior managing director for strategy and business development at the $2.8 billion firm - and, before that, its chief financial officer. His plans could not be learned, and the company declined to comment.

Separately, Geneva, Ill.-based Ritchie announced this week that Ritchie Technology & Life Sciences, a specialty lending operation, is open for business. The unit, run by G.E. Finance veterans Bill DeMars, Mike Marziani and Mark King, is understood to be near the close of its first deals - one with a semiconductor firm, the