Hedge fund manager Michael Karsch, who is shutting down his own firm, is preparing to launch a consulting firm.
Reuters reported that while it is unclear what type of services Karsh will offer through his new consulting firm, legendary investor Stanley Druckenmiller will be among its clients. Druckenmiller, who was the chairman and president of the now-defunct hedge fund firm Duquesne Capital Management, helped the firm average returns of 30% since 1986.
Karsh recently told investors of Karsch Capital Management that he will be winding down the firm after 13 years “to take a step back…and begin to think about the next chapter of [his] career.” Karsch plans to return 95% of investors’ money by September, and the rest no later than January.
Karsch previously worked at Soros Fund Management as a managing director and served in an investment role at Chieftain Capital Management prior to launching his New York-based firm in 2000.