ReachCapital Pulls Plug On Hedge Funds

Apr 13 2011 | 12:46pm ET

ReachCapital Management has liquidated at least three hedge funds.

The Harrison, N.Y.-based firm has shuttered its International Fund I, International Fund II and European Equity Fund, HFMWeek reports. All three funds suffered major losses during the financial crisis; International I dropped 46.15% and European Equity 33.29% in 2008.

But both funds rebounded strongly in 2009, soaring 47.42% and 54.06%, respectively, according to BarclayHedge.

ReachCapital was founded by Putnam Investments veteran Nigel Hart.

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