Linda Martinson will retire after more than 40 years as growth equity boutique Baron Capital's president and chief operating officer.
Martinson will retire at the beginning of June, according to an April 16 announcement by the firm.
David Baron and Michael Baron, vice presidents and portfolio managers, will become co-presidents in Martinson’s place, effective June 3.
Rachel Stern, meanwhile, will take on Martinson’s COO role, joining Baron Capital after a 23-year stint with FactSet.
Martinson will assume “an advisory role with the firm to ensure a smooth transition,” according to a news release. She will likewise remain chairman of Baron Funds’ board of trustees, as well as a director of Baron Capital Management, Baron USA Partners Fund, Baron Emerging Markets Fund and a member of the Baron Capital management committee.
Martinson said she looks forward to supporting Baron Capital’s “continued success.”
David and Michael Baron, meanwhile, will retain their current portfolio management responsibilities, including David Baron’s role as co-portfolio manager of the $1.3 billion Baron Focused Growth Fund and Michael Baron’s role as co-portfolio manager of the $7.1 billion Baron Partners Fund.
The new co-presidents and COO will report to Ron Baron, chairman and CEO of Baron Capital.
The firm oversaw roughly $43 billion in client assets as of March 31, the news release said.
