David Stemerman Shuts His Hedge Fund to Explore Run for Connecticut Governor
- Conatus manages $1.6 billion, down from $2.3 billion at start
- Flagship fund gained 18% this year; media fund up 24%
Connecticut State Capitol.
Photographer: Rolf Schulten/ullstein bild via Getty ImagesThis article is for subscribers only.
Hedge fund manager David Stemerman is closing his Conatus Capital Management after a decade to explore a run as the Republican candidate for governor of Connecticut.
“As Conatus approaches the end of its tenth year, I have decided to pursue an opportunity in public service and will be winding down the firm in December,” he wrote in a letter to investors. “As I begin to evaluate the opportunity to serve as Connecticut’s next governor, I expect to form a candidate committee that will prepare to launch a campaign in 2018.”