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.”


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...