Third Avenue Parts With CEO Barse as Fund Liquidates, WSJ Says
- Fund investors told last week redemptions were being halted
- Barse, its leader since 1991, saw assets plunge in past year
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Third Avenue Management is parting ways with Chief Executive Officer David M. Barse after he announced plans last week to freeze redemptions in its troubled high-yield mutual fund, the Wall Street Journal reported, citing unidentified people familiar with the matter.
Barse was let go and isn’t allowed back in the building, the newspaper said, citing a security guard at the firm’s New York headquarters. Daniel Gagnier, a spokesman for Third Avenue, declined to comment when reached by Bloomberg. Barse didn’t respond to messages left at his home over the weekend.