Former Baupost Manager Devoy Joins Loomis Sayles as Strategistby
Devoy worked at Loomis earlier in his career as analyst
Kennedy, Vandam will assume portfolio management roles
Devoy, who worked at Baupost from 2005 to 2013, most recently was on the faculty of Boston University, Loomis Sayles said today in a statement announcing the hire. From 2000 to 2002, he was a credit analyst at Loomis Sayles, the firm known for the bond funds managed by Dan Fuss.
Baupost was founded by Klarman, a well-known value investor who wrote the preface to the sixth edition of “Security Analysis,” a landmark 1934 book by Benjamin Graham and David Dodd. At Baupost, Devoy worked on corporate distressed debt.
Loomis Sayles also said Brian Kennedy and Todd Vandam will assume portfolio management roles and turn over their credit strategist responsibilities to Devoy. The firm managed $229 billion as of March 31.