Jean-Pierre Aguilar, chief executive officer of Capital Fund Management, has been killed in gliding accident, according to a letter sent to investo
Jean-Pierre Aguilar, chief executive officer of Capital Fund Management, has been killed in gliding accident, according to a letter sent to investors by the USD2.6bn hedge fund company.
The emailed letter said that Capital Fund Management’s board has moved quickly to ‘implement the transition to a new leadership structure’ following the accident over the weekend which claimed the life of the company’s 49-year-old co-founder and his co-pilot, who was head of the Gliding Club of Barcelonnette in France. The causes of the accident are under investigation.
‘The firm has gone through several crises in the past and we want to reassure our investors that this terrible event will not interrupt CFM’s high level of service or impact its ability to provide outstanding long-term investment returns,’ the e-mailed letter said. ‘Jean-Pierre has assembled a terrific team, where all individuals are important but none, not even himself, are critical.’
Details of the firm’s new leadership are expected to be announced in the next few days.
Aguilar helped found Capital Fund Management, one of France’s oldest alternative investment firms, in 1991. As a commodity trading advisor or CTA, Capital Fund Management uses computer systems to trade futures, equities, bonds and equity options and has managed funds under the ‘Discuss’, ‘Ventus’, ‘Nimbus’, and ‘Stratus’ brands.
