(Reuters) – Hedge fund supervisor Quentin Koffey, who joined D.E. Shaw & Co two years in the past from Elliott Administration Corp to steer its shareholder activism technique, has left to affix Senator Funding Group LP, the corporations advised Reuters on Thursday.

The transfer is a setback for D.E. Shaw, which is searching for to emulate Elliott as a generalist hedge fund with sturdy activist leanings, advocating for main adjustments at firms, resembling placing themselves up on the market.

Some funds are utilizing activism to differentiate themselves with methods that can’t be changed by cheaper index funds, as traders spurn hedge funds with excessive charges and lackluster returns,…

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