George Soros has found a new macro man to help run his $26 billion fortune.
Soros is hiring Adam Fisher, the chief investment officer of CommonWealth Opportunity Capital, as a money manager focusing on global macroeconomic trades, according to people with knowledge of the matter.
Fisher, who counted Soros Fund Management as one of his biggest investors, is winding down his hedge fund firm to join Soros, the people said.
Fisher is one of the first big hires by Dawn Fitzpatrick, who joined Soros Fund Management as the chief investment officer earlier this year. The family office hired her to use her asset-allocation experience to diversify away from the investing style Soros had been known for. Still, the firm’s goal is to maintain its legacy of being one of the most successful macro firms of all time, Soros’s former deputy chairman and president Robert Soros said in an interview in June.
The flagship CommonWealth Opportunity Master Fund lost 2.6 percent this year through June, documents show, while the average macro fund was flat.
Representatives for Fisher and Soros declined to comment.