Sunday, 26 April 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…