Thursday, 29 January 2015
Last updated 3 hours ago
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.
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…