Scott Bessent, CIO of Soros Fund Management, is departing to start his own firm.
Bessent will leave Soros at the end of 2015 to open Key Square Group, reports the Wall Street Journal. Bessent, who served as CIO since 2011, is backed by $2 billion from the Soros organization. Writes the Journal:
“He has decided to start his own venture because of the constraints involved in working within a family office structure, which prevent him from raising outside capital,” according to the memo from Mr. Soros’ son, Robert.
Photo: International Monetary Fund