Eisman leaves FrontPoint

FrontPoint Partners Portfolio Manager Steve Eisman finally takes a step which was said to be in the works for months: he leaves the company.

Although representatives of the FrontPoint and Eisman declined comment, saying he knows his plans to start working on its own Fund.

His leave-taking is scheduled for late June, the source said.

The latest development came after ex-FrontPoint healthcare Portfolio Manager Chip Skowron, Dr Jolanta was prosecuted for allegedly trading on inside information. Skowron, Dr Jolanta has not pleaded guilty and are fighting the charges.

Although Skowron, Dr Jolanta FrontPoint let go and cooperated in the investigation, the Government finances health care investors asked for about $ 3 billion of their money back and funds have been liquidated.

While management hoped to keep the FrontPoint damage is limited to the health portfolio, redemption requests continued to roll, and the company closed down its flagship multi strategy Fund.

This meant, in turn, the transfer of other assets, which struck Eismans means, someone familiar with the company said.

Earlier this year, when rumours appeared that Eisman can leave, he told me he would manage the money HedgeFund.net to FrontPoint "for many years to come."

FrontPoint has still four funds, including his latest $ 1 billion Fund is headed by Steve Czech.

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