Jean-Pierre Aguilar, CEO of Capital Fund Management SA, was killed in a gliding accident over the weekend, the Paris-based hedge fund company managing $2.7 billion said in a letter to investors.
Capital Fund Management’s board met yesterday afternoon to “implement the transition to a new leadership structure” after the death of its 49-year-old co-founder, the e-mailed letter said. Jean-Philippe Bouchaud, the company’s chairman, confirmed the contents of the e-mail by telephone in Paris.
“The firm has gone through several crises in the past and we want to reassure our investors that this terrible event will not interrupt CFM’s high level of service or impact its ability to provide outstanding long-term investment returns,” the e- mailed letter dated yesterday said. “Jean-Pierre has assembled a terrific team, where all individuals are important but none, not even himself, are critical.”
Details of the new leadership will be announced to investors in the next few days, it added.
Aguilar was participating in a gliding competition near Barcelonnette in the south of France when the accident happened, Bouchaud said in a separate e-mail to Bloomberg. He died competing in a sport he loved and had tremendous experience in, the e-mail to investors said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aERedCaR2dnk
Monday, July 6, 2009
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