(Adds fund allowing client redemptions in third paragraph.)

Sept. 15 (Bloomberg) -- Paul Touradji, founder of commodities hedge fund Touradji Capital Management LP, said he is looking for “world-class” leaders to replace Chief Financial Officer Tom Dwan and President Sang Lee.

Dwan will leave later this month to join another firm, New York-based Touradji Capital said today in a letter to investors. Lee, who is leaving the firm on an unspecified date, will assist Controller Ed Min, who will assume Dwan’s duties, according to the letter.

Touradji said he plans to focus more on investing, while delegating much of the day-to-day operations to others. He said the fund will allow investors to withdraw their money without penalty while the changes take place.

Armel Leslie, a spokesman for Touradji Capital, declined to comment on the letter, a copy of which was posted on AR Magazine’s website.

--Editors: Steven Crabill, Christian Baumgaertel

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net