Cambridge Associates has lost senior employee Kevin Stephenson and his team of roughly a dozen investment professionals, according to people with knowledge of the situation.
Another organization lifted out the 14-person team. The team had operated as a self-contained group, which will limit their departure’s collateral damage to the consulting and investment firm, a source confirmed Thursday.
Stephenson was a senior and longtime member of staff. He was a managing director based out of the firm’s Arlington, Virginia office as of 2017, according to a Council of Foundations document. He spent more than a decade at Cambridge Associates, press releases show.
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The team’s new employer could not be officially confirmed by time of publication.
A representative for Cambridge Associates declined to comment when reached by phone.