Saturday, 20 December 2014
Last updated 1 day ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.