Famed Wall Street value investor Charles de Vaulx died Monday afternoon after he apparently jumped to his death from his 10th floor Fifth Avenue office, according to the New York City Police Department and news reports.

De Vaulx, 59, became a legendary fund manager after creating International Value Advisers in 2008 with a partner and building it into a firm managing $20 billion at its height. However, de Vaulx abruptly closed the firm last month and then a week ago liquidated its two U.S. mutual funds, a move that surprised the industry because the firm still had more than $2 billion in assets, and value investing is beginning to see a resurgence, according to the New York Post.

Police are investigating the death of the Morocco-born financier, the New York City Police Department said in a brief statement, but no foul play is suspected. De Vaulx had not been accused of any wrongdoing. International Value Advisers suffered through a challenging year in 2020 when investors moved to growth stocks and began leaving the firm.

People close to the firm said the apparent suicide “was the final, tragic act of a brilliant investor whose life had become inextricably linked to the fate of his firm,” according to the Post.

De Vaulx was known to have an intense aversion to downside risk and he kept a personal stake in his funds, which added value to his management style for his adherents, according to a profile that Financial Advisor published on him shortly after he started International Value Advisers with his longtime associate, Charles de Lardemelle. De Vaulx had left First Eagle Investment Management to start IVA.

In a statement issued after his death, First Eagle said, “We are saddened to learn of the passing of our former colleague, Charles de Vaulx. A longtime champion of value investing, Charles left an indelible mark on the investment management industry and on those who had the opportunity to work with him.

“He was a key contributor to First Eagle’s Global Value team under the leadership of Jean-Marie Eveillard, spending 20 years of his career with First Eagle Funds (and its predecessor, SoGen Funds) as an analyst and portfolio manager until his departure in 2007. We extend our deepest condolences to Charles’s family and friends during this difficult time,” the statement continued.

A statement on the International Value Advisers website said, “It is with heavy hearts that we announce the passing of our chairman and CIO, Charles de Vaulx. The entire IVA community conveys their deepest sympathy to his family at this difficult time.”

De Vaulx built his long “career as a risk-aware global investor who never deviated from his deep-value approach, even when it meant keeping as much as 40% of his funds in cash because he couldn’t find attractive investments during a 13-year-stretch in which the markets favored faster-growing companies. De Vaulx’s conviction set him apart in the industry, even among other battle-tested contrarians,” said Barron’s.

“Others were willing to compromise and try some new approaches to adapt,” said Gregg Wolper, senior analyst at Morningstar Manager Research. “De Vaulx didn’t think that was appropriate and stuck to the deep value approach. His investors appreciated it because there weren’t many other places to find that.”

De Vaulx leaves behind a wife and two children.