Ex-Goldman Star Flamand Has Rough First Year

Nov 28 2011 | 9:29am ET

Former Goldman Sachs star trader Pierre-Henri Flamand, who left the bank to launch his own hedge fund in 2010, got off to a rocky start in 2011.

His $2.1 billion Edoma Partners, an M&A fund which closed to new investors earlier this year, is down 3.79% in 2011 as of the end of last week, a fund investor told Reuters.

This puts the fund down just under 2% since its inception on November 1, 2010, according to the source.

The year has been a tough one for event-driven funds like Edoma, with volatility killing off M&A deals. The HFRI Event-Driven (Total) Index fell 1.75% in the 10 months to the end of October.

Two investors told Reuters Flamand’s fund was down 2.6% over the same period.

"There will be some people who will be disappointed because they were expecting more but it's been a really difficult market…. I think people will give him the benefit of the doubt," one of the sources, who preferred not to be identified, told the news agency.


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note