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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...