A partner has left Tourbillon Capital, a struggling New York hedge fund

Kartik Joshi, a partner at hedge fund Tourbillon Capital, has left.The New York firm has struggled this year.Tourbillon's flagship fund is down -11.6% this year through November.Kartik Joshi, a partner at New York-based Tourbillon Capital, has left the fund, people with knowledge of the matter said.Joshi was Tourbillon's sector head for technology, media and telecommunications investments. The people asked not to be named discussing private matters.Tourbillon, founded by Jason Karp and which managed $3.4 billion as of earlier this year, has been losing money recently.The Tourbillon Global Master Fund lost -4.6% in November. From the start of this year through November, the fund is down -11.6%, according to an investor update seen by Business Insider.Karp has been warning of "frothy speculation"in the marketsandhas been preaching patience in client letters.Before launching Tourbillon, Karp was a portfolio manager at Steve Cohen's SAC Capital and a co-chief investment officerat Carlson Capital.SEE ALSO:What it takes to launch a hedge fund right now, according to the Wall Street pros who knowMUST READ:We asked a top hedge-fund recruiter what it takes to get a senior-level job these daysJoin the conversation about this storyNOW WATCH: A self-made millionaire describes the financial mistakes to avoid if you want to get rich by 30
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