Scott Bessent Steps Up, Soros’ Son Steps Back

Scott Bessent will step up to the plate as the new CIO for the $25 billion hedge fund, Soros Fund Management, while Jonathan Soros – son of co-founder George Soros – steps back from his role overseeing day-to-day management of the firm. 

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George Soros, 81, founded Soros Fund Management in 1969. Earlier this year, Soros announced that his fund planned to return all capital from outside investors as it transitioned into a family office to avoid regulatory scrutiny (See Soros Fund Management’s holding positions here).

Bessent returns to Soros Fund Management after serving as the firm’s head of global research over a decade ago. Since 2000, Bessent has worked under other hedge fund managers such as Stanley Druckenmiller and Jim Chanos and, recently, served as a senior partner for Protege Partners’ hedge fund.

Scott Bessent of Key Square Capital Management