Stark To Slash Half Of Staff

Jul 9 2012 | 7:12am ET

Stark Investments is closing three of its five hedge funds—and cutting about half of its staff as a result.

The St. Francis, Wisc.-based firm will lay off 59 employees by the end of the year, it said in a filing with Wisconsin regulators Friday. Stark had 120 employees at the end of last year.

It also had many, many more assets in December than now; the $8.9 billion it reported as of Dec. 31 has fallen to less than $1 billion. Last month, the firm told clients that it would close three hedge funds, including its flagship, due to the decline in assets under management.

According to the filing, Stark will begin the staff reductions on July 17 or slightly later. The layoffs will occur in four stages; those set to face the ax run the gamut from portfolio managers, a managing director and its chief risk officer to lawyers and accountants.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note