Jean-Pierre Aguilar, the CEO and co-founder of French alternative asset manager, Capital Fund Management (CFM), died in a glider accident on Saturday, the firm has announced.
Set up in 1991, Paris-based CFM is one of the oldest French alternative managers. It specialises in statistical arbitrage on futures, equities and options.
A statement on the firm's website assured investors that it would be business as usual at the hedge fund, despite the tragedy.
'The firm has gone through several crises in the past and we want to reassure our investors that this terrible event will not interrupt CFM's high level of service or impact its ability to provide outstanding long term investment returns,' the statement read.
49 year -old Aguilar died in an accident during the final stage of the Open CFM of Barcelonette gliding competition.