Ex-Caxton, SAC ‘Broes’ Up 25% In ‘10

Sep 24 2010 | 11:51am ET

In its second full year, one brotherly hedge fund has really hit its stride. The European long/short fund run by Caxton Associates and SAC Capital Advisors veterans Abe and Jack Eisenstat has soared 24.75% this year.

The firm, called Dabroes Management—what else?—has enjoyed one of the strongest years of any hedge fund after rising 5% last month. The average hedge fund is up about 2% this year, according to most hedge fund indices.

The results are a striking turnaround for Dabroes, which lost about 2% last year, when the average hedge fund returned approximately 20%. The $750 million firm survived its early troubles thanks to its year-long lockup and the way the firm set up the business during the financial crisis, MarketWatch reports.

The broes in question managed a similar hedge fund at Caxton for five years before leaving the firm to found Dabroes. They also ran a European long/short fund at SAC from December 2000 to March 2003.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...