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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...