SoftBank Loses Vision Fund Leader; Continues To Liquidate Portfolio

Ron Fisher looked to depart as the head of SoftBank Group Corp's SFTBY SFTBF Vision Fund and Chair and director of SoftBank Investment Advisors U.S. on April 15, Bloomberg reports.
Fisher would remain a senior advisor to SoftBank's founder and CEO, Masayoshi Son. Fisher left SoftBank's board in 2021.
Fisher began working with Son more than two decades ago, helping SoftBank through the Sprint Corp acquisition and WeWork Inc WE investment.
SoftBank liquidated almost all of the positions in its abortive internal hedge fund SB Northstar after racking up between $6 billion -$7 billion in losses in the unit behind the notorious "Nasdaq whale" trades, the Financial Times reports.
SoftBank looked to slow investments across as it sought to raise cash amid falling tech stocks and a regulatory crackdown in China.
Former Deutsche Bank trader Akshay Naheta who ran the unit, also left SoftBank.
Northstar's investment manager SB Management held a little over $1 billion in U.S.-listed stocks at the end of 2021, down from more than $17 billion one year earlier, Bloomberg notes.
SoftBank liquidated most of its European investments around the same time, including a $5 billion bet on Swiss drugmaker Roche Holding AG RHHBY.
Price Action: SFTBY shares traded higher by 3.52% at $23.84 on the last check Monday.
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