Saturday, 30 May 2015
Last updated 1 day ago
Sep 13 2012 | 7:57am ET
A trio of Highbridge Capital Management veterans are giving up on their own hedge fund venture.
The founders of Kingsbrook Partners, Adam Chill, Ari Storch and Scott Wallace, told investors on Tuesday that they would return all outside capital by the end of the year. While the three will continue to manage their own money, they said they were moved to throw in the towel by a lack of investment opportunities.
"Put simply, we do not believe that the right risk/reward investment opportunities currently exist that will enable us to generate risk-adjusted returns," the trio wrote.
New York-based Kingsbrook, which the three founded in 2009, has about $100 million in assets under management, Hedge Fund Alert reports.
Kingsbrook's Opportunities Fund is down 1% this year, but has posted a cumulative return of 31.1%. The small- and micro-cap fund is the successor to a similar fund the men ran at Highbridge beginning in 2001.
May 27 2015 | 2:15pm ET
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