|Hedge fund Viking Global Investors’ Chief Investment Officer and co-founder David Ott is stepping down and taking on an advisory position so he can spend more time with his family. Viking Global, which was founded in 1999 by Managing Partner Andreas Halvorsen, Brian Olson, and Mr. Ott, has $12 billion in assets under management. According to a recent Reuters article, the three founders previously worked at Julian Robertson’s Tiger Management together. Mr. Olson left Viking Global in 2005, leaving Andreas Halvorsen as the only founder actively involved in management of the hedge fund manager.|
As a result of David Ott's move, investors will be allowed to break any lock-up agreements and withdraw money from the fund at the end of July. Viking Global’s performance in the first quarter was hardly impressive, as it posted a 0.1% loss, compared to the S&P 500’s 5.4% increase.