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.