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Soros's son 'to establish own family office?

By Giulia Cambieri

Jonathan Soros, the son of billionaire investor George Soros, is reportedly setting up his own family office in a bid to independently manage part of his personal fortune.

According to Reuters, which quotes two people familiar with the situation, Jonathan is also planning to hire David Kulsar, who currently serves as chief risk officer at Soros Fund Management, the investment firm established by the elder Soros in 1969.

"Jonathan wants to manage some of his own money so the [Soros Fund] family office has made that accommodation for him," one of the sources told Reuters.

The move is part of structural changes taking place at SFM following George's decision to convert his hedge fund to a $25 billion (€18.7 billion) family office last summer, an insider added.

George closed the fund to outside investors in July in order to avoid having to register with the US Securities and Exchange Commission – two months later Jonathan stepped down as the fund’s co–deputy chairman.

However, there is no indication of a family feud, as Jonathan is currently serving as chairman of the family's foundation