Wednesday, 29 July 2015
Last updated 13 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…