Galleon Vet To Close Hedge Fund, Return To Sell-Side
Mar 17 2011 | 1:36pm ET
A hedge fund founded by a former Galleon Group portfolio manager is closing its doors.
Ketchem Creek Capital Management founder Richard Sherlund has decided to return to the sell-side, HFMWeek reports, and its liquidating his hedge fund and shutting its doors. Ketchem Creek never opened to outside investors, spending its two years managing Sherlund's money.
Sherlund had won a commitment from Microsoft billionaire Paul Allen's Vulcan Capital to launch at technology, media and telecommunications fund.
Sherlund worked as a software analyst at Goldman Sachs before joining Galleon in 2007, just a year-and-a-half before Galleon founder Raj Rajaratnam's arrest on insider-trading charges. His decision to pull the plug on Ketchem Creek comes in the middle of Rajaratnam's trial.
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