SAC Vet Frank Closes Hedge Fund

Mar 30 2011 | 1:16pm ET

A technology hedge fund founded by a longtime former SAC Capital Advisors manager is no more.

Stefan Frank shuttered his FISAM Capital a few weeks ago after a single large investor moved to redeem. The New York-based firm, founded in November 2009, was managing less than $100 million.

Frank, who spent nearly a decade at SAC managing technology stocks, found it difficult to continue trading without the large investor's capital, Reuters reports.

FISAM is still unwinding its portfolio and returning money to investors.

FISAM has returned about 6% since it launched in December.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR