Mystery of the 35-year-old who left $100m hedge fund team for nature
Working a job in finance isn’t for everyone. And while hedge funds might not ask their staff for the same hours that investment banks or private equity funds do, they’re still pretty intense.
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They’re intense even if you have experience with boutiques like Centerview Partners and other hedge funds like (the now defunct) Hutchin Hill. Sometimes they’ll make you want to throw your laptop out of the window and skip off into the fields – which is where one might find Maxwell Carpenter.
It isn’t clear where Carpenter is now. The last “employment” he commenced was at Riverside Park Conservancy in New York, a charity that cares for a six-mile stretch of parkland in Manhattan. He’s no longer working there (the group publishes an entire list of staff).
Neither is he working for hedge fund Magnetar Capital, his last confirmed employer, any more. At Magnetar, back in 2019, Bloomberg said that Carpenter worked under portfolio manager Chris Procaccini as a medical devices and tools analyst.
Procaccini, who is three years Carpenter’s junior, has since become a bit of a legend. He was recently the subject of an intense bidding war for his services that was won by Millennium, which shelled out $100m for him and his team. Carpenter therefore missed out on a big payout by leaving Procaccini’s team, which now includes analysts such as Matthew Allen and Alexia Teofilovici, from hedge fund Armistice and research firm Guidepoint, respectively.
Magnetar was presumably quite traumatized by its star PM’s departure; it has since deleted pages on its website related to its healthcare business altogether.
So, where is Carpenter? We don’t know. He was last known to be well and good in the summer of 2021, well after he left Magnetar. He's got an excellent pedigree after his 3 years at Centerview, 2 years at Hutchin Hill, and 2 years and Magnetar - but he's not registered with FINRA. What’s happened since then is anyone’s guess; he’s no longer working in finance, clearly. Perhaps he’s still fishing.
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