The suicide of a prominent investor after the collapse of his financial empire is being viewed as a Wall Street tragedy.
According to the New York Post, police revealed that it was almost 1 p.m. Monday when Charles deVaulx entered the luxury Midtown building at 717 Fifth Avenue, where International Value Advisers (IVA), an investment firm founded 14 years ago, had been office.
Minutes later, de Valsx fell from the 10th floor and was pronounced dead at 1:05 p.m. by emergency personnel on the scene.
According to an employee of the building. De Varkes had built IVA into a financial giant with $20 billion in assets, but the company suddenly faced liquidation last month.
Police are investigating the death of the 59-year-old Moroccan-born financier, but there is no suspicion of murder. De Valks has not been accused of any wrongdoing.
In an analysis of de Varkes’ death, it was the last act of pathos for the talented investor whose life had been tied to the fate of his company, people familiar with the company said.
A source familiar with the matter, who asked not to be named, told the New York Post:Â “In many ways, it’s Shakespearean tragedy…… ironic that many of his holdings have appreciated dramatically in the past few months.”
The source added:De Vaulx is a complex character who is arrogant and feels he has failed in his mission of value investing and lost his raison d’être.”
A month ago, IVA went into liquidation after a tumultuous year. In addition, longtime partner and respected fund manager Chuck de Valles? de la Demerre also left abruptly.
As IVA’s value investing strategy – buying undervalued stocks – took a hit from the epidemic, which boosted growth stocks and led investors to pull out.
Nonetheless, the liquidation surprised and confused some investors, as de Vals still had a loyal clientele.
IVA quickly became one of the fastest-growing funds in the U.S., but over time it became clear that de Valcks and de Radamel had fundamental disagreements over how the firm should be run, arguing over such day-to-day details as which analysts should report to whom and how to organize workflow, according to sources familiar with the matter.
Despite the fact that IVA has grown into a closely watched Wall Street firm with about 40 employees, de Valcks is still reluctant to cede any control or responsibility to de Radamel, the sources said.
Last July, de la Demerre announced his departure, a move that disappointed investors and ended his personal and professional relationship with de Valcks. Investors saw Ladmeyer’s exit as cause for alarm. Over the next six months, the fund shrank to about $3 billion as investors withdrew their money.
People close to de Vasks said it was a blow to him that some investors no longer trusted him and stopped giving him their money, despite the fact that he was worth hundreds of millions of dollars.
A statement on IVA’s website reads: “It is with a heavy heart that we announce the loss of our chairman and chief information officer, Charles? De Valkes. It is with heavy hearts that we announce the passing of our Chairman and CIO, Charles de Vaulx. The entire IVA community extends its deepest sympathy to his family at this difficult time.”
De Valquez leaves behind a wife and two children.
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