Barton Biggs, a high-profile money manager who founded Morgan Stanley Investment Management, died July 14. He was 79.
Mr. Biggs died from a bacterial infection after falling ill a few weeks ago, according to Amer Bisat, who shared managing partner duties with Mr. Biggs at Traxis Partners, the global macro hedge fund Mr. Biggs founded in 2003 after retiring from a career of almost four decades at Morgan Stanley.
In a telephone interview, Mr. Bisat said Mr. Biggs' colleagues at Traxis “had been hoping for a recovery,” and Mr. Biggs himself hadn't canceled plans to “climb Macchu Picchu” in Peru later in July.
In an internal memo, James P. Gorman, Morgan Stanley's chairman, CEO and president, said Mr. Biggs had “left an indelible mark on our business” since joining Morgan Stanley as a general partner and managing director in 1965.
In 1975, Mr. Biggs founded Morgan Stanley Investment Management and served as the firm's chairman through 2003.
“He was known as an independent thinker, colorful writer and one of the pioneers of emerging markets investing,” Mr. Gorman said in the memo.
Mr. Bisat called Mr. Biggs' death a “huge loss” for Traxis, but said the firm has a deep bench, and remains fully focused on taking care of Traxis' investors. Mr. Bisat said there are no plans at present to fill Mr. Biggs' managing partner role.