Jeffrey Tarrant, CEO and chief investment officer of hedge fund seeder Protégé Partners, has moved into the newly created role of chairman.
Carol O'Donnell has taken over as Protégé's CEO. She will remain chief compliance officer and will continue to handle the firm's legal matters, although her previous title of general counsel is being eliminated,said Edward Rowley, a spokesman, in an email
Adil Abdulali has assumed the new positions of president and chief science officer. He previously was a portfolio manager.
Michael Weinberg now serves as CIO. He was chief investment strategist; those duties have been combined into the CIO position and the title has been eliminated.
Mr. Tarrant is stepping back from day-to-day management for health-related reasons, but will remain active in the firm, focusing on investment research and development, said Mr. Rowley.
Mr. Tarrant also will continue to offer guidance on MOV37, a firm affiliated with Protégé Partners that was launched in November to invest in small, emerging hedge funds utilizing autonomous learning investment strategies.
Protégé and MOV37 will be led by a management committee composed of Ms. O'Donnell and Messrs. Tarrant, Abdulali and Weinberg.
The promotions of Mr. Abdulali, Mr. Weinberg and Ms. O'Donnell "also recognize their significant roles in launching and managing the MOV37 business and portfolio," said Mr. Rowley.
Protégé manages $700 million in emerging hedge fund managers on behalf of a largely institutional client base.