Saturday, 28 November 2015
Last updated 20 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…