Carl Icahn Moves his Son Brett Icahn up the Ladder with $3 Billion Hedge Fund

August 24th, 2012
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Carl Icahn, the hedge fund patriarch of his $24 billion family holding company, Icahn Enterprises, has peeled off $3 billion to help his son Brett Icahn to become a more seasoned portfolio manager. According to Financial Times, Brett who is also an employee of Icahn Enterprises has been cutting his teeth on a smaller chunk of Icahn funds, the $300 million Sargon Portfolio, and has done quite well having doubled its value in less than two years.

If Brett Icahn is able to manage the larger portfolio to a 4 percent annual return for four years, Brett Icahn and his partner Dave Schechter can expect to earn a 7.5 percent of the profits as a lump sum payment, as well as the necessary heft to possibly launch their own asset management firm. Carl Icahn, who built an unrivaled hedge fund empire over four decades, gave up asset management in 2011 but will retain control of the new $3 billion portfolio.
For Detailed Investor Profiles on these Investors, click below:
Icahn Associates (Carl Icahn)
Related People: Alexander J. Denner; Brett Icahn; Carl Icahn; Keith A. Meister*
Related Entities: High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Jobs, Hirings and Firings; Hedge Fund Launches and Hedge Fund Closings

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