Bankrupt Matrix To Shutter Hedge Fund, Sell Fund Of Funds

Nov 7 2012 | 3:40pm ET

The Matrix Group, a British firm with both hedge fund and fund of hedge funds arms, will all but cease to be.

The firm said it would shutter its hedge fund business, Matrix Alternative Asset Management, and sell its fund of funds business as part of a liquidation. The firm will also close its investment banking unit and spin-off its real-estate unit.

Matrix Property Fund Management chairman Rob Randall blamed the collapse on the firm's advisory business.

"The administration of Matrix Group was caused by continued weakening in market conditions in the investment-banking sector," he said. "We are optimistic that the Matrix Property Fund Management business will continue to grow.

Matrix went into administration yesterday, after 35 years in business. Bermuda Global has agreed to buy the fund of funds unit.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…