Saturday, 27 December 2014
Last updated 3 days ago
Jun 8 2012 | 1:03pm ET
New York hedge fund Woodbine Capital Advisors is on a very unpleasant diet.
The global macro shop, set up three-and-a-half years ago but former Soros Fund Management portfolio manager Joshua Berkowitz and Permal Group veteran Richard Corsden, has seen its assets dwindle from $3.2 billion two years ago to just about $500 million now, the New York Post reports. Some $700 million of the outflow has come since January, when Woodbine had $1.2 billion left.
This year's waning of assets has coincided with the departure of two co-founders, Corsden, who returned to Permal, and Marcel Kasumovich, like Berkowitz a Soros vet. Those exits prompted some of the redemptions, according to the Post.
A Woodbine spokesman told the tabloid that the firm expects to raise new money by the beginning of next month. Permal remained a major investor as of the end of March.
Woodbine lost 12% last year and shook up its staff. But it returned to the positive in May.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.