Tuesday, 27 January 2015
Last updated 14 hours ago
Sep 23 2011 | 2:02pm ET
Despite having lost more than 90% of its assets, Arrowgrass Capital Partners wants to keep its equity hedge fund afloat.
London-based Arrowgrass has no plans to shutter the Equity Focus Fund, Reuters reports. It's also thrown its backing behind Andrew Billett, the former SAC Capital Advisors trader who runs the fund.
Equity Focus is down 14.5% this year after an 8.65% drop last month. Even worse, the fund is down to just US$30 million in assets, the Financial Times reports, from US$400 million at the beginning of the year.
While it doesn't plan to do away with Equity Focus, Arrowgrass has allowed investors to redeem in advance of their regular redemption dates.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…