Rob Donahue will no longer be the manager of the $1.7 billion Salomon Brothers Capital fund effective Thursday.

Donahue is leaving to start his own hedge fund, said a Citigroup spokeswoman.

Ross Margolies, co-manager of the fund since 1998, left Salomon Brothers Asset Management effective May 1. Donahue assumed sole management of the fund at that point.

Kevin Caliendo, director of Citigroup Global Markets, takes over as portfolio manager, the company disclosed in a June 30 SEC filing. 

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