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PERSONNEL Profiles/Developments

Former Hedge Fund Manager Traci Lerner Strikes Gold in Altria Pot Deal

Traci Lerner’s $1.4 billion hedge fund, one of the few to be run by a woman, shut two years ago as the wake of the 2008 financial crisis created a hostile environment for investing other people’s money.

Lerner turned the fund, which she started with her husband in 1991, into a family office to manage her own wealth. Her former investors probably wish she hadn’t...

Daniel Och sells big chunk of the hedge fund empire he built

Billionaire investor Daniel Och is ceding a big chunk of his ownership in Och-Ziff Capital Management Group following a period of upheaval for the biggest publicly traded hedge fund firm in the US.

Och-Ziff said Thursday that Och-Ziff’s founder and several former managing directors would sell 35% of their shares to Och-Ziff’s executive managing directors in the form of a new share class. Och also intends to withdraw a portion of his money from Och-Ziff funds...

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