Nov 9, 2012, 6:09 PM EDT
The asset management firm that helped one of the Red Sox’s principal owners to amass his fortune is no more. John W. Henry & Company will shut down at year’s end, the company announced Friday.
The Wall Street Journal reports that Henry’s company managed more than $2.5 billion in 2006, but today oversees less than $100 million. Not all that money was necessarily lost, but it seems safe to suggest that Henry hadn’t been attracting new investors since taking a big hit in the market downturn.
The news figures to touch off a new round of “will the Red Sox be sold” stories, but the fact is that Henry’s company has been weak for four or five years now and shuttering it probably won’t affect his fortunes much.
- Video: Josh Hamilton hits his first home run of the season 15
- Rockies starter Chad Bettis loses his no-hitter in the eighth inning 1
- Stephen Strasburg exits start in the second inning with an apparent injury 4
- More than half of polled baseball fans prefer having the pitcher hit 57
- The Marlins aren’t happy with the Dan Jennings hire 42
- Andrew McCutchen is doing just fine now, thank you 20
- The schedule: if it ain’t broke, don’t fix it 69