Zoe Cruz has had a tough couple of years. Once the highest paid woman in finance and on track to succeed Jack Mack as CEO of Morgan Stanley, Ms. Cruz was publicly ousted from the firm in 2007 after the mortgage unit she ran lost $3.7 billion. Just last year she had to liquidate her $200 million hedge fund, Voras Capital, when its value dropped 8 percent in a year, and now, according to rumors reported by the New York Post, she’s splitting up with Ernesto Cruz, her husband of three decades.
Nothing a little real estate therapy can’t solve. Ms. Cruz—but not Mr. Cruz—just closed on a $7.34 million, 15th-floor unit at 912 Fifth Avenue, a limestone pre-war building between East 72nd and 73rd Streets, according to city records.
Expo Capital Management founder Paul Sinclair is returning $458 million managed by his Los Angeles-based hedge fund, telling Bloomberg that the turmoil surrounding the European sovereign debt crisis has left him “physically and mentally exhausted.”
Mr. Sinclair’s Expo Health Sciences Fund lost about 8.7 percent last year, and was down 6 percent this year through May. Mr. Sinclair isn’t the only hedge fund manager to take to bed in recent months:
If, inexplicably, you’re not interested in JPMorgan’s stunning $2 billion loss on a derivatives position accumulated by a trader known as Voldemoort, the London whale and just plain old Bruno Iksil, we’ve got the news from the rest of Wall Street: