David Ott resigned as chief investment officer of hedge fund manager Viking Global Investors and will take a less active role in the firm to spend more time with his family.
According to an investor letter obtained by P&I Daily written by O. Andreas Halvorsen, Viking’s founding partner, CEO and risk manager, Mr. Ott will become an advisory director and work about half-time, primarily as a mentor to the firm’s investment analysts.
Mr. Ott’s portfolio management duties were passed to portfolio managers Tom Purcell, Dan Sundheim, Jim Parsons and Dris Upitis. Mr. Halvorsen will take on the CIO duties, according to the letter.
Mr. Halvorsen wrote that Viking’s administrative staff “will take on greater responsibility for the day-to-day management of the firm such that I can spend more time on investment-related activities.”
Viking manages about $12 billion in hedge funds for institutional and high-net-worth clients.
Jonathan Gasthalter, a spokesman for Viking, declined to comment on Mr. Ott’s departure and other changes at the firm.