Goldman Vets To Shutter Benros Capital

Feb 20 2013 | 2:03pm ET

Benros Capital, one of a number of high-profile hedge funds launched by former Goldman Sachs prop. traders, is throwing in the towel after losing a key investor.

The event-driven fund decided to call it a day after Brummer & Partners, Sweden's largest hedge fund manager, announced it was pulling its $300 million investment, reports Financial News.

A statement published Tuesday on the Brummer's web site said the firm's Multi-Strategy fund had decided to redeem its investment in the Benros Event Driven and Opportunistic Fund because “the fund’s performance has not met expectations.”

From inception in June 2011 to January 2013, the fund lost 7%, said Brummer.

A person familiar with the situation told FN the loss of Brummer's $300 million—which represented the majority of Benros' assets—caused the fund managers to decide to close the business and return remaining money to investors.

Benros Capital was founded by Daniele Benatoff and Ariel Roskis who worked at Goldman’s Principal Strategies proprietary trading desk under Pierre-Henri Flamand. Flamand also left Goldman to start his own hedge fund, Edoma Capital, which he announced he was shutting in November.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Expert Says Scale Of Baillon Classic Car Find Rare

Dec 29 2014 | 3:40am ET

Forget about hedge funds, buying rare, classic cars could be called the ultimate...

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.