Monday, 1 September 2014
Last updated 3 days ago
Mar 14 2012 | 1:42pm ET
Less than two years after merging with hedge fund Montrica Investment Management, TPG-Axon Capital Management is shuttering its only fund.
TPG-Axon told clients last month that it would liquidate the Montrica Global Opportunities Fund and return all capital to investors by the end of this month, Bloomberg News reports. Montrica had been hit with a number of redemption requests and its board was "unsure of the continuing logic of maintaining a separate, small Europe-focused fund."
The closure won't affect Montrica's side pockets. TPG-Axon said it won't charge any management fees on the fund during the liquidation.
TPG-Axon and London-based Montrica merged—no money changed hands—in the summer of 2010. The deal reunited TPG-Axon's Dinakar Singh and Montrica's Andrew Metcalfe, who had worked together at Goldman. Metcalfe has since left Montrica, although the firm's other two founders, Svein Hogset and Fredrik Juntti, will remain with TPG-Axon.
Montrica was "roughly flat" last year and had returned about 4% this year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...