Sunday, 1 February 2015
Last updated 2 days ago
Jul 20 2012 | 2:13am ET
Inundated by redemptions and down to just one co-founder, Woodbine Capital Advisors isn't getting any help from the markets.
The New York-based hedge fund saw its year-to-date gains wiped out last month. The fund, whose assets have plummeted from $1.2 billion to just $500 million this year, lost 2.2% in June, ValueWalk reports, leaving it down 1.5% on the year.
The losses came on European and currency investments, notably a short position on the euro.
Woodbine, which managed $3.2 billion just two years ago, lost 12% last year and shook up its staff. It followed up that loss with the loss of co-founders, Richard Corsden and Marcel Kasumovich, leaving only Joshua Berkowitz, a former Soros Fund Management trader.
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…