Friday, 22 August 2014
Last updated 4 hours ago
Sep 8 2011 | 12:57pm ET
It seems that not every new hedge fund manager wants to be John Paulson: Increasingly, newer and smaller hedge funds are closing their doors to new investors, many before even reaching $1 billion in assets under management.
At least a half-dozen such firms, many led by managers with impressive pedigrees, have done so this year, The New York Times reports. Lakewood Capital Management is the latest, telling investors it will close after seeing assets soar almost fivefold to $900 million.
Lakewood was founded four years ago by SAB Capital Management and Kohlberg Kravis Roberts veteran Anthony Bozza. Other funds founded by veterans of Farallon Capital Management, MSD Capital and TCS Capital Management have already put the breaks on new money.
Brenner West Capital Advisors, founded by Craig Nerenberg and Josh Kaufman, formerly of MSD, did so this month after tripling its assets to $480 million in less than a year. Point Lobos Capital and RouteOne Partners, both set up by former Farallon Capital Management money managers, have also done so, as have Jericho Capital and Redmile Group.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note