Legendary Energy Trader John Arnold to Retire
By: Kate Kelly | CNBC Reporter
John Arnold, the billionaire manager of the Houston hedge fund Centaurus Advisors, told investors and employees Tuesday that he plans to retire, according to people familiar with the matter.
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.
Last year, amid challenging markets and major losses for many commodities traders, Arnold turned in 7 percent in gains. He is reportedly worth at least $3 billion.
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