Farallon Capital Management has performed a feat that few hedge fund managers have managed to pull off — a successful transfer of power. Thomas Steyer retired at the end of 2012 from the firm he founded in 1986. He sold his stake in Farallon Capital Management and handed over the chief executive role to U.K. native Andrew Spokes in December 2012. The transfer of power was steady and deliberate, completed over a five-year period to ensure the continued success of the firm after Steyer left. So far, the departure of the firm’s founder has hardly affected Farallon’s returns. The multistrategy firm secured its 14th consecutive year as one of the 25 largest hedge funds in the world according to Alpha’s Hedge Fund 100 ranking, hitting the No. 25 spot in 2014. After firm-wide losses…
