Tuesday, 1 December 2015
Last updated 6 hours ago
Dec 8 2011 | 2:26am ET
Nadeem Walji will have to hope that the third time is the charm—if, in fact, there is a third time.
Walji is shuttering his second hedge fund in as many years, liquidating his Duma Capital Management's sole fund. Unlike in 2009, when Walji's once-$500 million Duma Capital Partners closed its doors amidst major redemptions despite strong performance, Duma part deux never even reached critical mass for assets under management, making it difficult for Walji to attract the talent he sought, Hedge Fund Alert reports.
DCM's Duma Liquid Opportunities Fund debuted in April, after Walji spent about six months managing the strategy for a few associates. The $100 million fund was seeded by Timothy Barakett, the former head of Atticus Capital.
DCM was set to return 90% of investor capital as of late last month. The last $10 million will be returned following an audit.
"The management came to the conclusion that it would be most prudent to return all capital as soon as possible so that Duma's investors may reallocate for 2012," a spokesman for the firm told HFA.
Walji worked at Duquesne Capital Management before founding DCP in 2005. Prior to joining Duquesne, where he was a top manager running more than $500 million, he worked at Soros Fund Management.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…