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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.