Leon M. Wagner, co-founder, chairman and managing member of GoldenTree Asset Management, will retire from the firm at the end of this year.
Mr. Wagner is not leaving to join another money manager, said his spokesman, Bill Mendel, and will take some time off before deciding what his next venture will be.
Mr. Wagner will not be replaced, said Scott Sunshine, a GoldenTree spokesman. Mr. Wagner will leave the majority of his personal capital invested in GoldenTree funds, Mr. Sunshine added.
Mr. Wagner founded the hedge fund and structured products manager with Mr. Tananbaum and Steve Shapiro in 2000.