AbCap Loses Finance Director

Jan 2 2008 | 11:41am ET

Troubled hedge fund group Absolute Capital Management Holdings is making it a clean sweep at the top in 2007 with finance director Darren Sisk’s resignation last week.

Sisk follows co-founder and former CEO Sean Ewing and co-founder and former chief investment officer Florian Homm out the door at the firm, which is run from Majorca, Spain. His departure leaves AbCap without a chairman—formerly Ewing—and a finance director as it tries to pick up the pieces from this summer’s market turmoil, which forced the firm to suspend redemptions and restructure its funds.

According to HedgeWorld, Sisk’s departure is not directly related to his being a member of the firm’s discredited management team, but the result of his “not fitting in” with new CEO Jonathan Treacher.

Soon after Homm’s departure, investors learned that he had invested a chunk of the firm’s assets in highly illiquid U.S. pink sheets, and the company’s share price went into a tailspin.


In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…