Severn River Stops Flowing

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...