Wednesday, 30 July 2014
Last updated 13 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…