Zwanstraa's Penta To Return Outside Capital

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?