As you’ve probably heard by now, hedge fund manager Ken Griffin is getting divorced, having served his wife Anne with papers at some point yesterday afternoon. So, it’s sad times at Casa de Griffin, made even sadder by the fact that the Citadel founder may be parting with a good chunk of his milkshake allowance at some point in the near future. Read more »
Sure, TCI’s Chris Hohn has made all of the $1 billion to $3 billion he and his soon-to-be-ex-wife are fighting over, as he so modestly explained to the judge overseeing their divorce. But she, equally modestly, notes that she made him a not-terrible person. And that, Jamie Cooper-Hohn believes, is priceless. Or at least worth an extra quarter of the pot. Read more »
Those of you who keep close tabs on Texas hedge fund manager James Dondero know that he has been battling his ex-wife Becky Dondero over how much money he owes her for some time now. Complicating things slightly is a related suit/countersuit involving a former Highland Capital Management employee , Patrick Daughtery, who was sued by Dondero after he testified on behalf of Becky, claiming that over drinks, his boss told him he planned to “get his net worth down and pay her as little as possible.” In the suit, Dondero claimed that Daughtery made the story up to get back at Dondero/Highland for compensation that was never paid out, in addition to alleging that that Daugherty had suffered brain damage. Anyway, jury selection for the Dondero/Daughtery trial started yesterday, and the judge presiding over the case is not gonna lie: he’s looking forward to the juicy details. Read more »
And you want to know something else? Li Quan isn’t even sure her husband ever cared about the tigers in the first place! Did Quan herself use some of the funds earmarked for the animals taking herself out to dinner and order the most expensive bottle of wine on the menu? Yes, but that doesn’t change the fact that she felt deeply for those cats. Read more »
Not too long ago, Patricia Cohen, the ex-wife of Steve, had a dream. It wasn’t just that she wanted to successfully sue her former husband, who she’d accused of insider trading, hiding marital assets, and so on and so forth and it wasn’t just about money. “No,” Patty said to herself, “dream bigger.” And so she did. Read more »
First, the back story: Martin Coward and Elena Ambrosiadou, currently in the process of getting divorced, were once partners in business and in marriage. They met at Cambridge, fell in love, and founded hedge fund group Ikos in 1992. Math nerd-cum-ladies man Coward was “the brains” behind the investment strategy and research, while Ambrosiadou, who holds a master’s degree in business, was named chief executive, ran operations and “was a key driver of growth.” In the beginning, things went prettay prettay prettay well.
Ikos is named after an ancient Greek word for “household.” Mr. Coward and Ms. Ambrosiadou embraced a strategy known as “quant” investing, which uses computers to drive investments based on complex mathematical models, rather than relying on individuals to pick stocks. The couple’s strong performance record attracted prominent investors, people familiar with the firm say. By 2007, they had moved the business to Cyprus, with assets peaking at around $3.4 billion.
Then things started to get tense when the two began disagreeing over how to run the firm, turf, and probably whose turn it was to take out the trash. Coward was having a lot of “me time” with one person “who knows them” noting that Marty, a licensed pilot with a penchant for windsurfing, “frequently went on vacation.” While he was on one of his vacays (this one was skiing the Alps), Ambro made the executive decision to fire one of her husband’s London-based research teams without letting him know first. And Coward did not like that! Read more »