Boyer Allan Liquidating

Feb 3 2012 | 11:30am ET

After 14 years, Boyer Allan Investment Management is closing its doors.

The Asia-focused hedge fund will complete its liquidation "within weeks," HFMWeek reports. The firm spun off its Pacific Opportunities Fund on Feb. 1 and is in the process of doing so with its last remaining fund, Boyer Allan Emea.

Most of the firm's remaining US$400 million in assets has already been returned to investors.

Firm founders Johnny Boyer and Nicolas Allan made the decision to pull the plug last year, which also saw the closure of two other hedge funds. Boyer Allan also delisted all five of its funds from the Irish Stock Exchange.

Allan and Boyer are said to have found the going for the once-US$2 billion hedge fund "ever harder than in 2008"—and to have found it even harder to change with the times.

The firm's "strategy wasn't right for the markets and it's hard to retool the entire DNA," a source told HFM. "U.S. pensions don't like long-bias funds anymore."

Allan and Boyer has also lost interest in fund management, sources said.

Boyer Allan's Pacific Opportunities fund is now in the hands of Stone Drum Partners, helmed by Charlie Erith and Andrew Tay.


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