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Richard Grubman

Richard Grubman

Richard Grubman Steps Down from Highlands Hedge Fund

Richard Grubman has decided to step down from managing the Highlands Capital Management, the hedge fund that he co-founded. Grubman, who made headlines for allegedly hitting a valet in the face with his car keys and the assault charges that ensued, has decided to focus on personal pursuits.
Grubman’s departure was announced at an internal meeting at the Boston-based firm, as well as in a letter to investors. Grubman said he would turn his attention to personal pursuits.
The now-retired Grubman certainly has other things on his mind. In addition to the now-infamous incident where he allegedly threw his car keys at a valet at Boston’s Ritz-Carlton Hotel and Towers, earning him an assault with a deadly weapon charge, Grubman’s wife, Caroline, has been battling breast cancer since last year.
Grubman allegedly had a meltdown after the valet asked him to move his BMW from a residential-only parking area. He was arrested, but his lawyer earlier this month expressed confidence that a deal would be struck with prosecutors. If convicted, Grubman faces up to 10 years in prison.
Jon Jacobson, who co-founded Highfields with Grubman a dozen years ago, will remain at the firm’s helm.  Source

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