Thursday, 18 December 2014
Last updated 2 hours ago
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.”
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.