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Cambridge Associates co-founder liquidating stake in company

Cambridge Associates co-founder Hunter Lewis is in the process of liquidating his shares in the company to fund his philanthropic endeavors, a spokeswoman confirmed.

James Bailey, the firm's other co-founder, continues to hold all of his direct personal holdings in Cambridge Associates and remains the largest shareholder of the company.

Earlier this year, Cambridge Associates sold a 20% stake in the consulting firm to one of its consulting clients, Brussels-based Sofina SA.

Cambridge had $389.6 billion in assets under advisement as of Dec. 31.