Wagner Leaving Baupost Shows Difficulty in Keeping Talent

Herb Wagner’s decision to leave Baupost Group shows how tough it is for hedge funds to keep ambitious, talented people.

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Baupost’s Seth Klarman
Photo credit: (Bloomberg)

Does news of Herb Wagner’s decision to start his own investment company, after two years as Seth Klarman’s co-portfolio manager at the Baupost Group, to start his own throw a temporary hitch into Klarman’s succession plans? Probably not, given Klarman’s plan to maintain his current role for the foreseeable future.

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