Baron Capital Group
president and chief operating officer Morty Schaja
and portfolio manager Mitch Rubin
will depart the firm next month to form a hedge fund venture.
Rubin managed the Baron Fifth Avenue Growth
and the Baron iOpportunity
for the New York-based firm. Effective March 3, senior portfolio managers Ron Baron, Cliff Greenberg and Andrew Peck took over his duties at the $134 million Fifth Avenue Growth fund as the firm searches for a permanent replacement. Mike Lippert has been named portfolio manager for the $154 million iOpportunity fund.
"There will be no changes to the investment strategies followed by Baron Fifth Avenue Growth and Baron iOpportunity as a result of the change in managers," Baron said in a statement.
The firm has yet to name a replacement for Schaja.
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