Thursday, 26 November 2015
Last updated 14 hours ago
Dec 13 2011 | 1:02pm ET
Hedge fund Hunter Global Investors is closing its doors, citing poor performance in recent months.
Founder Duke Buchan, a former Maverick Capital managing director, said he'll return a "substantial portion" of Hunter's $1 billion next month. It is unclear when investors will receive the rest of their money, although Buchan said that all but about 3.6% of the hedge fund's investments are liquid, Bloomberg News reports.
"The past year, particularly the last four months, has been frustrating," Buchan wrote to clients, without quantifying how frustrating. "Our recent drawdown does not meet our organizational or my personal expectations."
"My decision is a personal one," Buchan continued. "It has been distressing for me to know, despite our best efforts, the extent to which our recent drawdown has impacted you."
Buchan founded the New York-based long/short shop in 2001.
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…