Wednesday, 28 January 2015
Last updated 1 hour ago
May 24 2012 | 11:03am ET
With almost $500 million in new money pouring in to HBK Capital Management in the first quarter, the hedge fund has shut off the spigot.
The Dallas-based hedge fund has closed its flagship fund to new investors. The close went into effect at the beginning of April, after $475 million in inflows pushed the multi-strategy fund's assets under management to $6.4 billion, HFMWeek reports.
"We appreciate the confidence placed in us by our continuing and new investors," the firm wrote to investors. "As mentioned in previous communications, we continuously evaluate our assets under management relative to our perception of market opportunities, and we began limiting subscriptions in the fourth quarter of 2011."
HBK took in some $1.25 billion in fresh cash last year. The fund returned 7.6% in 2011 and 2.79% in the first quarter of this year.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…