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

The transfer is a setback for D.E. Shaw, which is in search of to emulate Elliott as a generalist hedge fund with robust activist leanings, advocating for main modifications at firms, comparable to placing themselves up on the market.

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

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