Co-founder of $8.2B hedge fund to retire

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Source: Taconic Capital Advisors

Kenneth Brody, the co-founder of $8.2 billion hedge fund firm Taconic Capital Advisors, plans to retire in January after nearly 15 years at the firm, according to a letter sent to investors Tuesday.

Brody, 70, will remain a principal and advisor to the multi-strategy and event-driven firm starting January 1. He will also remain a "significant" investor, according to the note.

Co-founder Frank Brosens will run the New York-based shop with chief investment officer Chris Delong. A spokeswoman for Taconic declined to comment.

(Read more: Hedge funds play buy-and-hold, and lose: Report)

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