Monday, 30 November 2015
Last updated 2 days ago
Apr 6 2011 | 12:15pm ET
Ramius Capital is pulling the plug on another multi-strategy vehicle.
The firm, now the hedge fund arm of investment bank Cowen Group, which Ramius acquired in 2009, has begun to liquidate its onshore Multi-Strategy fund of hedge funds, HFMWeek reports. The move comes almost a year after the firm decided to shutter its two multi-strategy hedge funds in the wake of a large redemption.
The demise of the Multi-Strategy FOF is not so much the result of redemptions as the lack of inflows. Investors haven’t warmed to the 13-year-old vehicle, which returned just 5% last year and 8% in 2009, years in which the average hedge fund posted double-digit returns. The fund currently has about $36 million in assets.
Ramius, however, retains a toe-hold in the multi-strategy space. The $140 million offshore version of the Multi-Strategy fund of funds will remain.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…