Arcadia To Return Cash After Seeder Quits

Dec 14 2011 | 8:51am ET

Arcadia Capital Advisors plans to liquidate its hedge fund after its seed investor moved to redeem its capital.

MD Sass decided to pull its investment due to New York-based Arcadia’s inability to raise money. Those factors pushed managing director Richard Rofé to return all capital to outside investors by April. Rofé plans to look for other strategic partners to back a concentrated activist fund at Arcadia.

MD Sass’s MD Sass-Macquarie Financial Strategies Fund’s three-year contract with Arcadia expired in October.

“I have a high regard for Arcadia’s money manager, Richard Rofé, and enjoy a good relationship with him,” MD Sass’s Martin Sass told HFMWeek. “The reason for withdrawing is the difficulty in raising assets for a start-up micro-cap activist equity-oriented fund in the current market.”


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...