Saturday, 20 December 2014
Last updated 12 hours ago
Jan 9 2012 | 2:16pm ET
Hedge fund manager John Zwanstraa is joining his mentor in semi-retirement.
Zwanstraa's Penta Investment Advisers will return all investor capital. The 14-year-old firm's assets have dropped by about $1 billion to less than $2 billion over the past six months. At the middle of last year, about 40% of Penta's $2.9 billion in assets belonged to the firm's principals.
Penta will offer its clients more details later this week, Bloomberg News reports.
Zwanstraa founded Asia-focused Penta in 1998 after three years with Soros Fund Management. He raised more than $500 million for the fund.
Zwanstraa's former employer, George Soros, has also decided to return outside capital, in July.
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…
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