Searock Capital Liquidating $750 Million Hedge Fund

Dec 14 2007 | 4:56pm ET

Another one bites the dust. Searock Capital Management, a $750 million hedge fund shop, is calling it quits, according to a source familiar with the situation.

The New York-based firm, which is run by hedge fund veterans Seth Turkeltaub and Rick Lodewick, has reportedly told investors that it is liquidating its assets and closing up shop.

A call to the firm was not returned by press time.

Turkeltaub and Lodewick formed Searock about one-and-a-half years ago after leaving BKF Asset Management where they ran a successful $615 million hedge fund group. At BKF, the pair was responsible for generating 20% of the firm’s revenue in 2005, but they left in April 2006 after being unable to reach an agreement about a pay package.
Before joining BKF Asset Management, Turkeltaub was with SAC Capital Partners.

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