Mark Kingdon |
Although its assets have fallen and performance in its main fund is negative for the year, Kingdon Capital Management has continued to expand its staff. The firm’s flagship global long/short equity strategy, which manages $4.3 billion, was down 2.37% for the year through July following a 0.66% loss that month. The Kingdon Credit fund, which manages about $290 million, gained 4.9% in the first half of the year. The firm’s assets totaled $4.3 billion on July 1, down from $4.8 billion on January 1.
Despite these losses, or perhaps because of them, Kingdon has recently hired an Asia portfolio manager and a head of trading. Justin Pollack joined Kingdon in July as a portfolio manager for Asia. He previously managed a long/short equity strategy at CastleBay Capital Management in Singapore, which he founded. Before that, he worked as a portfolio manager and trader for the Galleon Group. According to a Kingdon investor, Pollack replaces Irfan Verjee, a portfolio manager for Asia, who left the firm in 2009. Firm founder Mark Kingdon had managed that portfolio in the interim, the investor said.
The firm also hired Eric Kirby in June to serve as head of trading. Kirby previously served as the head U.S. equity trader for HBK Capital Management and before that was a trader at Shumway Capital Partners. He replaces Kingdon’s former head of trading, Tim Case, who left earlier this year, the investor said.
The firm’s July letter also noted the departure of Kathleen Kelley, the firm’s macro portfolio manager. Kelley joined Kingdon in 2005.
The letter said she was “moving with her family to London.” She could not be reached for comment. It was unclear whether the firm was seeking a replacement.
