James Caird Plans New Fund Next Year

Dec 15 2011 | 3:10pm ET

After shutting its flagship hedge fund, James Caird Asset Management will launch a new one.

The London-based hedge fund told investors yesterday that it would liquidate its eight-year-old JCAM Global Fund—which started at Moore Capital Management—due to poor performance this year. The $1.6 billion hedge fund is down 8.9% this year; James Caird founder Tim Leslie said he'd begin returning money new month.

Next year, James Caird, which has two other funds that will continue trading, will launch a new fund with a "narrower trading focus," Leslie wrote to investors yesterday. The new fund will be managed by Leslie deputy Robert Miller.

Leslie said he hoped to raise $500 million for Miller's fund, and would cap the fund at about that level, Bloomberg News reports.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of