Sunday, 26 October 2014
Last updated 1 day ago
Dec 18 2009 | 10:26am ET
Tudor Investment Corp. isn’t the only hedge fund turning away new money. At least five other hedge funds have taken the step of closing their funds to new investors this year, as the hedge fund industry seeks to rebound from one of its worst years ever in 2008.
The industry as a whole is continuing to take in new money after several months of record outflows to open the year. But Bain Capital’s Brookside Partners and Woodbine Capital Advisors aren’t participating fully in those inflows.
The former put the brakes on new investment last month, Bloomberg News reports. Woodbine, founded in January by a pair of Soros Fund Management veterans, had ballooned from an initial asset base of $185 million to $2.5 billion in just 10 months. Despite its move to close the inflow spigot, Woodbine may get $500 million bigger by January, due to commitments made before it decided to close the fund.
For its part, Brookside decided to restrict new money after raising $1 billion from investors this year.
On the other side of the pond, Brevan Howard Asset Management, Clive Capital and Lansdowne Partners have all closed funds to new investment this year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.