Robert Soros has been working for his dad for the last 23 years and, if you take it from Pater, he’s done an “outstanding” job. Trouble is, helping run a diversified family office in the current environment is, well, kinda boring. And stifling.
“As opposed to the past when everything was under one umbrella and under the strong force of the patriarch, Soros Fund Management will now transition to a model that provides customized solutions for the different needs of the Soros family and the Soros foundation clients,” Robert said in a telephone interview.
And the needs of this one particular member of the Soros family is for some excitement. So he’s striking out on his own, kinda.
He’ll create a unit called Soros Capital, which will tend toward illiquid investments including venture capital….
In his own portfolio, Robert will focus on long-term holdings because he has the luxury of pursuing investments that take a while to play out. He recently hired one person to work with him and may add one or two more.