Gene Page / AMC
Another senior staffer has left a hedge fund started by a Steve Cohen protégé.
Folger Hill Asset Management’s Jennifer Rusk, the director of investor relations, left last week, according to people familiar with the matter.
Rusk started working at the hedge fund in January 2015, according to a LinkedIn page. Her next move was not immediately clear.
Other members of Folger Hill’s business development and marketing team are taking over Rusk’s duties, a person briefed on the matter said.
The people spoke on the condition of anonymity because they did not wish to be named.
The firm, which has been struggling with performance, has lost several senior staffers over the past few months, including at least two portfolio managers and the firm’s director of risk, Business Insider previously reported.
Folger Hill launched in 2014 under Sol Kumin, who was previously chief operating officer for SAC Capital, Steve Cohen’s hedge fund that was infamously shut down amid insider trading charges.
Leucadia-backed Folger Hill lost about a third of its assets last year, Reuters reported. The firm managed about $ 1 billion as of mid-2016, according to the Hedge Fund Intelligence Billion Dollar Club, and assets fell to about $ 600 million just three months later, according to Reuters.
The firm’s flagship fund, Folger Hill Partners LP, fell 17.5% last year net of fees compared to a 12% rise in the S&P 500, according to an investor letter viewed by Business Insider.