Moore Capital’s Greg Coffey to retire at 41
Greg Coffey, the flamboyant star fund manager at the US hedge fund Moore Capital, once described as “one of the most impressive traders in the world”, is to retire at the age of 41.
Coffey, who was head of $15bn Moore Capital’s European operations from London, is leaving the hedge fund industry. He is expected to return to his native Australia to spend more time with his family. Reports suggest he has amassed a personal fortune of $700m.
At Moore Capital, Coffey managed the Moore Emerging Markets Fund, which was launched in August 2003. In 2009 he launched two funds, one an emerging markets fund and the other on emerging markets fixed income and currencies.
He joined Moore Capital in 2008 from London-based hedge fund GLG Partners, bringing with him his 12-strong team. His departure caused an outflow of funds and a fall in the GLG share price. In October 2010, GLG sold out to Man Group for $1.6bn.
However, critics suggest he is more of a faded star. In November last year, he was forced to hand over the management of his emerging markets fund after a poor performance. He then launched a global macro fund with $750m seed money from Moore, which has been liquidated.