Bankrupt Matrix To Shutter Hedge Fund, Sell Fund Of Funds

Nov 7 2012 | 4:40pm 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

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of