Caxton's Kovner to Retire After 28 Years

Sept. 13 (Bloomberg) -- Bruce Kovner, the billionaire co-founder of Caxton Associates LP, is retiring from the $10 billion hedge fund, ending a three-decade run during which he traded everything from soybeans to Japanese yen futures and returned twice as much as the Standard & Poor's 500 Index. Andrew Law, chief investment officer, will take over from Kovner as chairman and chief executive officer on Jan. 1, the New York-based firm said today in a letter to investors. Bloomberg's Sheila Dharmarajan and Matt Miller report. (Source: Bloomberg)