Icahn Up 35%

Jan 9 2012 | 2:15pm ET

Carl Icahn's decision to get out of the hedge fund business in favor of managing his own money cost his former clients dearly last year.

Icahn's Icahn Capital soared 35% in 2011, he told the New York Post. The word comes eight months after Icahn returned all outside capital, telling clients that "the losses that were incurred by investors in our fund in 2008 bothered me a great deal more, in many respects, than my own losses." The firm had already suffered massive redemptions during the financial crisis.

"I didn't think we'd do so great this year, but we did very well," Icahn told the tabloid. "I was pretty hedged this year, too. I think we did very well, considering how hedged we were, and we continue to be quite concerned about the market."

The average hedge fund lost about 4%—or more—according to hedge fund indices.

On the bright side, investors got to take part in some of Icahn's gains last year. His fund was up 8.7% through the first two months of 2011.


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...