Richard Grubman, senior managing director of multistrategy hedge fund manager Highfields Capital Management, will retire in the next few months, confirmed spokeswoman Molly Morse.
Mr. Grubman co-founded Highfields with Jon Jacobson, CEO, in 1998. The firm managed $9.8 billion for institutional and other clients as of June 30. Ms. Morse said Mr. Grubman will not be replaced and his duties will be assumed by others.
A source who asked not to be identified said Mr. Grubman is retiring for family reasons.