Another portfolio manager has left struggling hedge fund Folger Hill

Mitul Shah, a portfolio manager at Sol Kumin's Folger Hill, has left the hedge fund firm.Shah worked atFolger Hill Asset Management for about two years starting in February 2015, according to a LinkedIn page. He left last week, according to people familiar with the matter.Shah has since moved to Holocene Advisors, according to his Bloomberg terminal profile.Shah is at least the second portfolio manager to recently leave Folger Hill. Jennifer Pollak previously left for Ken Griffin's Citadel, Business Insider reported.Folger Hill, founded by ex-SAC Capital chief operating officerSol Kumin,has faced concerns over investor redemptions and performance. Itsflagship fund fell 17.5% in 2016, according to investor documents reviewed by Business Insider.A media rep for Folger Hill didn't immediately comment and a spokesperson for Holocenecouldn't immediately be reached.SEE ALSO:Ken Griffin's $26 billion firm has made a hire from a struggling hedge fundDON'T MISS:Dan Loeb made a nearly $1 billion bet on Wall StreetJoin the conversation about this storyNOW WATCH: The reason millennials became obsessed with payment app Venmo has nothing to do with money
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