STAMFORD, Conn. (HedgeWorld.com)--Chris James, Andor Capital Management's chief investment officer and co-founder, will leave the company to form his own firm, resulting in the liquidation of two Andor funds.
Andor Diversified Growth and Andor Diversified Growth Offshore, together with about US$650 million, and Andor Healthcare and Andor Healthcare Offshore, together with about US$100 million, will be liquidated by Aug. 31, according to a letter to investors from Dan Benton, who is Mr. James' partner running Andor.
Andor manages about US$6.5 billion in total, according to the letter, with assets down from US$8.3 billion as of year-end 2003 (see ).
Mr. James plans to leave the firm in order to form a diversified growth hedge fund operation. The two have worked together for eight years, while Andor was founded in 2001.
Mr. Benton stated in the letter that Andor will "remain focused on it core competency: managing technology long/short hedge funds," with all tech funds and its research team remaining in place.
Any Andor technology fund investors who want to redeem as a result of the changes can do so with notification by Aug. 1, redemptions taking place Aug. 31, and proceeds delivered by Sept. 15, Mr. Benton wrote.
Contact Robert F. Keane with questions and comments at: