One of two co-founders at an eight-year-old boutique mutual fund shop is stepping back, for now. Meanwhile, their team is expanding.

On July 24 Richard Cook, co-founder and PM at Cook & Bynum, assumed sole responsibility for the portfolio management of the Cook & Bynum Fund. Cook previously shared the role with J. Dowe Bynum, co-founder and PM, who is on medical leave.

Bynum is still at the office, but is not currently taking on his full role. According to the SEC filing Bynum plans to return to his duties as soon as he is fully able and makes a full recovery.

In addition, Cook tells MFWire, they are looking to expand their research team. Their most recent hire was on July 5th when they hired Whitney Wright, and they have hired three people since the beginning of the year.

"We are taking steps to double down and add capacity," says Cook.

They started the business eight years ago in 2009, and they have "known each other since they were one years old," Cook adds. The Birmingham-based company has $375 million in AUM, and has had 32 investments using a "private equity approach to public markets." They buy and select few businesses globally, including in Latin America, and have long holding periods. 

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