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

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...