Deustche Bank-Backed Roc Liquidating Hedge Fund

Aug 1 2013 | 11:36am ET

Despite an impressive pedigree and some powerful backers, Roc Capital Management is closing its doors in the face of falling assets and poor performance.

The New York-based hedge fund has begun to liquidate its remaining portfolio, Bloomberg News reports. Roc plans to return all capital to clients within a few weeks.

Roc managed just $642 million at the beginning of March, down from $1.2 billion when it launched in 2009. The quantitative hedge fund was among the largest new hedge funds of that year, and was backed by Deutsche Bank, where founder Arvind Raghunathan and most of its staff formerly worked at its Equitech Group. The bank owned at least a 5% stake in Roc and put up $500 million of its initial capital.

Roc also had the support of one of India's richest couples, the daugher of ArcelorMittal chief Lakshmi Mittal and her husband, who in 2011 took between a 10% and 25% stake in Roc.

Roc, which has suffered losses, will survive as a firm. It plans to launch a new fund that will manage employee money only—at least initially.


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

Analyzing The Digital Footprint: What Operational Data Can Tell You About Future Risk

Mar 30 2017 | 3:38pm ET

Advances in technology and increasing operational complexity in search of higher...

 

From the current issue of