Open News

Carlyle Chief Executive to Step Down

Carlyle Group Inc. Chief Executive Kewsong Lee is leaving the private-equity firm, as it struggles to expand and its shares lag. Carlyle said late Sunday after The Wall Street Journal inquired about the matter that Mr. Lee will step down as CEO immediately and will leave the firm when his five-year employment agreement ends at the end of this year. William Conway, a co-founder and former co-CEO of the firm, will serve as interim chief executive until a permanent successor can be found…

Tiger Global underestimated inflation impact as flagship fund drops 50%

Tiger Global, one of the world’s largest hedge funds, saw its flagship fund fall by 50% in the first half of the year after it underestimated the impact of a surge in global inflation on markets, according to letter to investors. The U.S.-based fund lost 24.7% in the second quarter, increasing its loss for the first half to 50% from the end of last year, the letter issued by Tiger earlier this week and seen by Reuters on Friday said…

Citadel Replaces Head of Agriculture as Crosby Leaves Hedge Fund

Citadel appointed Willis Kidd as its head of agriculture after Robert Crosby left the $53 billion hedge fund earlier this summer. Kidd, who joined the firm in 2014, is now running the agriculture team as a portfolio manager in Chicago, a company spokesman confirmed. The promotion follows the departure of Crosby, who was hired in 2019 to help Citadel expand in soft commodities, livestock and biofuels trading…

Binance Co-Founder He to Lead $7.5 Billion VC Arm in Shuffle

Binance, the world’s biggest crypto exchange, said its co-founder Yi He will serve as the new head of its venture capital arm Binance Labs, replacing Bill Chin, who left earlier this year. Binance Labs manages total assets of $7.5 billion. That makes it one of the largest venture capital players in the crypto industry, rivaling giants such as Silicon Valley investment firm Andreessen Horowitz’s digital assets-focused efforts…

Scroll to Top