K. Robert “Bobby” Turner, the chairman and CEO of the real estate arm of hedge fund firm Canyon Capital Advisors, has reportedly been “removed” from his position.
According to Pensions & Investments, Canyon Capital Realty Advisors notified investors this week of the leadership change in an attempt to “better integrate the unit with the broader Canton initiative.”
Canyon Capital co-founders Joshua Friedman and Mitchell Julis will share the role of co-chairman, while principal Jonathan Roth has been promoted to president. Roth will be responsible for leading the investment management and asset management teams.
California-based Canyon has around $19 billion in AuM.