Hedge Fund Ironbound Capital Closing

Apr 11 2011 | 1:06pm ET

New Jersey hedge fund Ironbound Capital Management is throwing in the towel.

The equity long/short specialist is liquidating its funds and closing its doors. CEO Brian Sattinger told HFMWeek that the firm was, indeed, closing, but did not explain why.

Ironbound was founded seven years ago by former Merrill Lynch money manager Steve Silverman. At Merrill, Silverman managed the firm's Pacific and Global Value funds until his exit in 2002.


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