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

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note