Thursday, 2 April 2015
Last updated 10 hours ago
Aug 9 2007 | 2:49pm ET
Santa Fe, N.M.-based Black Mesa Capital, a quantitative-based hedge fund, has told investors that at least one very large hedge fund or investment bank is liquidating "massive" trading portfolios causing disruptions and triggering big losses among other market-neutral hedge funds, according to an investor letter obtained by MarketWatch.
The firm's hedge fund reportedly manages some $3.8 billion in long and short positions and is down about 9% this month through August 8 and up 5% year to date, a source close to the firm told FINalternatives.
"Clearly, something is amiss in the markets that few in our strategy, if anyone, have experienced before," wrote Black Mesa's portfolio managers Dave DeMers and Jonathan Spring in the letter obtained by MarketWatch.
Goldman Sachs earlier this week denied that it was liquidating its troubled quant flagship $10 billion hedge fund, Global Alpha, which lost almost 8% in the week ended July 27, and is down more than 12% year-to-date.
Black Mesa’s performance last month (+17%) definitely did not correlate to Goldman’s woes, according to the source, although for August no one knows because there seems to be highly correlated losses in the market-neutral space. But the source close to Black Mesa says one thing is clear: Investors are not redeeming.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…