Two high-profile executive exits from one of the world’s largest hedge funds have sparked massive investor speculation about what’s going on inside the $10.3 billion Clinton Group.
Weeks ago, Bill Feingold, who at one point ran the $595 million Clinton Riverside convertible portfolio, left because he was stripped of many of his responsibilities, say people familiar with the situation.
Soon after Feingold’s exit, Seth Fischoff, the former point man for investors on the huge $2.2 billion Clinton Multi-Strategy Master Fund, departed unexpectedly for personal reasons.
Both Feingold and Fischoff declined to comment.
The departures have inspired widespread rumors, ranging from the money managers’ physical condition to whether the Clinton Group was preparing to sell itself.
Clinton insiders said the firm is not for sale, but would not comment on the record. An official spokesman for the hedge fund declined to comment.
People familiar with the situation say Feingold left because he was relieved of his responsibilities running the Riverside convertible fund which he had handled since late 2002.
Management did not think the portfolio was adequately hedged, however, and relieved him of that job early this summer say people close to the situation.
The abrupt exit of Fischoff, a 10-year firm veteran, sparked widespread concern because of his high profile on Wall Street.
At 31, he was known to be a protégé of Clinton Group founder and president George Hall.