Brookside, Woodbine Restrict New Investment After Big Fundraising Years

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.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of