Deephaven Closes Event-Driven Funds, Parts Ways With Manager

Jan 31 2008 | 12:34pm ET

Deephaven Capital Management will liquidate a pair of poor-performing hedge funds, its parent, Knight Capital, said in a regulatory filing.

In addition, Andrew Greenberg, the senior portfolio manager who oversaw the $780 million event-driven funds, is leaving the firm.

The funds have suffered “significant” redemptions, and lost 1.27% last year, according to Financial News. Deephaven chief Colin Smith will oversee the funds’ liquidation and the return of assets to investors. Tony Chedraouiis, who runs the firm’s unrelated European event-driven portfolios, takes over for Greenberg in running Deephaven’s global event-driven team.

Greenberg was on Deephaven’s payroll for just over a year. He joined from Citadel Investment Group, where he was co-head of the global value group, to succeed Matthew Halbower, who left the firm to found his own hedge fund, Pentwater Capital.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of