Saturday, 4 July 2015
Last updated 23 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…