Former Fortress Hong Kong Chief Liquidates Hedge Fund

Jun 17 2010 | 12:22pm ET

Stanley Ku, the former head of Fortress Investment Group’s Hong Kong office, is pulling the plug on his hedge fund after less than a year.

The Minerva Macro Fund has already returned most outside money to investors. It will return the rest as soon as possible, Bloomberg News reports.

Ku, who enjoyed a dozen consecutive years of positive performance managing US$750 million for Fortress’ flagship Drawbridge Global Macro Fund, could not continue his run at Minerva. The Hong Kong-based hedge fund had lost 6.6% through May.

Minerva debuted in August with the backing of Man Group hedge fund seeder RMF Global Emerging Managers. RMF invested US$50 million in the new fund, which focused on Asia.

At the time, Man’s Hans Hurschler said the firm was “enthusiastic about investing in their fund early in its development because Minerva invests in the kind of highly-liquid assets that are especially appealing to investors following last year’s problems with gating and side-pockets.”


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.