Torbillon Brings on Ross Berman as President

June 25, 2018 James Heinsman Company Spotlight

The headline-making hedge fund, Tourbillon Capital Partners, is hired a former hedge fund manager, Ross Berman, to be its president and chief strategy officer.

Lately known for its awesome negative returns, Tourbillon is run by Jason Karp, previously employed by Carlson Capital and SAC Capital, Steven A. Cohen’s fund manager. Karp launched Tourbillon in 2012.

For the past three years Berman has been consulting in the hedge fund industry. He also ran his own hedge funds twice. He helped to co-found BAM Capital Management, in business from 2002-2010. He ran Green Owl Capital from 2012 to 2016. Berman is replacing Amy Zipper as president and COO, a job she has held since 2012, at the company’s founding.

In its early days Tourbillon was making profits in the double digits, but has since fallen on harder times, along with many hedge funds recently. Two consecutive years of losses motivated some of the firm’s clients to pull their money. Today the fund is managing about $2 billion, down from $3.4 billion at the end of February. The fund lost 14 percent in 2017 and 9 percent in 2016. In 2013 the firm had a spectacular 21 percent growth rate, its best ever returns. So far in 2018 it lost 1.4 percent until May.

Amy Zipper, Ross Berman, Tourbillion Capital Partners,

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