Thursday, 27 November 2014
Last updated 12 hours ago
Feb 25 2013 | 2:11pm ET
Hedge fund Severn River Capital Management will close its doors, the latest casualty of what firm founder Scott Roth called the "challenging" investment environment.
Roth said he would close his nine-year-old hedge fund and return its capital to clients. It is unclear how much Greenwich, Conn.-based Severn River currently manages, and the firm did not specify when investors will get their money back, Bloomberg News reports.
"Fundamental equity, market-neutral long/short investing has been challenging over the past few years and we have decided to wind down our operations," Roth wrote on Friday. "I would like to thank my present and past employees and investors for their faith in my and my team over the past seven years."
Roth, a Goldman Sachs veteran, founded Severn River in 2004. The firm's first funds did not last long, closing in 2006 after losing 8% since their debut.
Severn River currently employs 10, Roth said.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...