T. Rowe Price : Henry Ellenbogen is leaving to launch new venture

Star portfolio manager Henry Ellenbogen, 47,  will leave T. Rowe Price Group Inc. next month. Ellenbogen will no longer manage T. Rowe Price's $21.9 billion New Horizons Fund or serve on the fund's investment advisory committee, effective March 31, according to a federal filing.

• New Horizons has backed Twitter, the social games company Zynga; China’s largest online video service, YouKu; the ratings and review service Angie’s List; the business software provider Workday; and the daily deals site LivingSocial.

Henry Ellenbogen, portfolio manager of the T. Rowe Price New Horizons fund (ticker: PRNHX), lead portfolio manager for the firm’s U.S. small-cap growth equity strategy, and group chief investment officer of U.S. equity growth, will leave T. Rowe Price on March 31 to launch his own venture.

Josh Spencer, manager of the T. Rowe Price Global Technology fund (PRGTX), will replace Ellenbogen at the helm of New Horizons and as portfolio manager of the U.S. small-cap growth equity strategy.


 Ellenbogen joined T. Rowe Price in 2001, and from 2001 to 2009 he was an equity investment analyst covering Internet, media, and telecommunication companies. He was selected as a "Best of the Buy Side" award winner for 2003, 2005, and 2009 by Institutional Investor magazine. From 2005 to 2009, he was a portfolio manager of the Media & Telecommunications Fund. During this period, the Media & Telecommunications Fund was awarded five Lipper Performance Achievement Certificates for ranking number one in the Lipper telecommunications funds category over 1-, 5-, or 10-year time periods based on cumulative total returns.

Prior to joining the firm, he served as chief of staff to U.S. Representative Peter Deutsch, a member of the Commerce Committee, which has jurisdiction over media and telecommunications. Henry also worked as a summer associate with Goldman Sachs as a member of the portfolio management team in the Risk Arbitrage Group and Investment Banking Division. He was a general partner of Crimson Investments, L.P.

Henry earned an A.B., magna cum laude, in history and science from Harvard College. He earned a J.D. from Harvard Law School and an M.B.A. from Harvard Business School, where he was a Baker Scholar, and he was an adjunct professor at New York University Graduate School of Politics.