North Carolina Hedge Fund Shuts Down

Jul 27 2012 | 10:55am ET

A North Carolina hedge fund has closed its doors after its anchor investor pulled its money.

Raleigh-based Belltower Advisors launched in 2009 with an unidentified foundation as one of its largest investors. That foundation's decision to redeem left the firm which once managed more than $170 million, without sufficient assets to stay in business.

"We had one large client that decided to relocate," co-founder Mark Corigliano told the Triangle Business Journal.

Corigliano is now teaching at the University of North Carolina at Chapel Hill, whose campus is home to the landmark bell tower that his defunct hedge fund was named after. The Belltower co-founder teaches graduate classes at the college's Kenan-Flagler Business School.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...