Friday, 31 October 2014
Last updated 6 hours ago
Sep 16 2010 | 2:06pm ET
It was a good idea, in theory, but Theory Capital Partners is closing its doors after raising money proved, in practice, too difficult.
The Boston-based firm debuted only last year, founded by two veterans of another short-lived Boston hedge fund, former Tudor Investment Corp. veteran James Pallotta’s Raptor Capital Management. But last month, Robert Broggi and Carl Fantasia e-mailed clients to say they would be getting their money back because Theory couldn't raise enough of it.
Given poor “current and future prospects to raise capital, we concluded it was in the best interests of our existing limited partners and the team at Theory Capital to wind down operations,” the two said in an e-mail on Aug. 25.
All told, the firm raised less than $100 million, according to Reuters.
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…
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