Venn Capital Management, the 18-month-old spinout from Stan Druckenmillers Duquesne Capital Management, is shutting down after a run of lackluster returns.
The New York firm founded by Kim Walin, Sender Cohen and Gene Lange in January 2006 is expected to return investor capital from Venn Global Opportunities Fund at the end of June. The fund has less than $100 million under management.
Meanwhile, two of the partners have already lined up other jobs with former employers.
Cohen, a global telecom and information technology specialist and a senior analyst at Venn, will become a portfolio manager at Soros Fund