Leon Cooperman's Omega Fund Becoming a Family Office

Leon Cooperman plans to convert Omega Advisors into a family office, influenced by personal reflections and a Kenny Rogers concert. Despite a past SEC settlement, Cooperman aims to leave a strong legacy, reflecting a generational shift in the investment industry.

What does the text suggest about the generational turnover in the hedge fund world?

What legacy concerns did the individual have according to the reports?