The eldest son of George Soros is stepping down from senior roles at the hedge fund-turned family office to invest his own money.

Robert Soros, deputy chairman and president of Soros Fund Management, is stepping down from these roles and day-to-day management to invest his own money at the $26 billion family office, Bloomberg reported.

The eldest of George Soros’s five children, Robert will remain an owner at the firm where he has worked in various investment and management roles for more than 20 years. He will continue to be involved in its strategic long-term planning, the news service said. Additionally, Soros will set up a unit called Soros Capital, which will tend toward illiquid investments including venture capital.

George Soros turned his Quantum hedge fund business into a family office in 2011 to avoid the costs of a new regulatory regime on firms taking in third-party money; a number of other hedge fund businesses, such as Steven Cohen’s SAC, have taken the same course, although not always for the same reasons.

Bloomberg quoted Robert Soros as saying: “As opposed to the past when everything was under one umbrella and under the strong force of the patriarch, Soros Fund Management will now transition to a model that provides customized solutions for the different needs of the Soros family and the Soros foundation clients.” The report noted that the Soros family office hired Dawn Fitzpatrick this year as chief investment officer. David Milich, who joined Soros four years ago as chief operating officer, will take over Robert’s management duties.