Bruce Kovner, the billionaire co- founder of Caxton Associates LP, is retiring from the $10 billion hedge fund, ending a three-decade run during which he traded everything from soybeans to Japanese yen futures and returned twice as much as the Standard & Poor’s 500 Index.
Carl Icahn and Howard Solomon, who fought over the leadership and direction of Forest Laboratories Inc. are now “good friends,” said Solomon, who retired eight months ago as the drug company’s chief executive officer.
Caxton Associates LP and Crispin Odey’s hedge fund were among buyers of Bank of America Corp. shares in the first quarter before the lender halted its capital plan and sparked a 15 percent stock plunge.
Hedge-fund icon Stanley Druckenmiller is quitting the business after three decades, telling investors he’d been worn down by the stress of trying to maintain one of the best trading records in the industry while managing an “enormous amount of capital.”
While the devil was still putting on his white suit and top hat for the new production at the Metropolitan Opera of Gounod’s “Faust,” mere mortals were starting their night with cocktails in the Grand Tier.