Tuesday, 31 March 2015
Last updated 7 hours ago
Sep 19 2013 | 12:40am ET
When Jennifer Fan founded Arbalet Capital at the age of 28, she was a rising star in the hedge fund world. Unfortunately for her and for Arbalet's investors, she proved a shooting star.
Fan will shutter Arbalet just a year-and-a-half after it debuted as one of the largest new hedge funds of 2012. The Darien, Conn.-based firm suffered a 9% loss last year and a 6% loss in the first half, leading investors to bolt, Reuters reports.
Arbalet, which once managed almost $700 million, now has less than $200 million. The proximate cause of the commodity hedge fund's demise is the exit of several large investors, forcing the hand of other investors wary of or forbidden from holding so large a stake in a hedge fund. Among the redeemers was Schroders NewFinance Capital, which had some $200 million invested with Arbalet, which will close over the next couple of months, according to Reuters.
Fan launched Arbalet in April of last year. The firm employed the relative-value commodities strategy she managed at Arrowhawk Capital Partners—and featured about 10 Arrowhawk alums. Arrowhawk closed in early 2012 after failing to raise enough money.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…