John Arnold, the billionaire manager of the Houston hedge
fund Centaurus Advisors, told investors and employees Tuesday that he plans to
retire, people familiar with the matter have told CNBC.
The energy trader, who is in his late 30s, told associates
he plans to devote his time to philanthropic pursuits, said one person familiar
with the matter, and that he’ll return assets to investors.
In a letter to investors that people familiar with the
matter say was issued today, Arnold wrote simply that he planned to close the
flagship Centaurus Energy Master Fund because “I feel that it is time to pursue
other interests.”
Arnold’s reasons for leaving the trading business aren’t
entirely clear. In its decade-long history, Centaurus, which manages more than
$3 billion, had only one down year, 2010….
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