Mutiny On The Hudson: Pirate Capital’s First Mates Jump Ship

Sep 30 2006 | 8:45am ET

Famed Norwalk, Conn., activist hedge fund Pirate Capital is adrift in rough seas yet again, facing regulatory storm clouds and a squall of investor redemptions, and doing it all short-handed.

Pirate founder Thomas Hudson wrote in a letter to investors this week that the firm, which has $1.7 million in assets under management, lost half of its investment staff with the resignations of bond manager Carl Klein and analysts Zachary George and David Lorber, and the firings of analysts David Muccia and Matthew Goldfarb. The letter also said the firm was closing its funds to new investors on Oct. 1, a move it had previously slated for the beginning of next year, when it expect to reach $2 billion in assets.


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Publisher's Note

    Hedge Funds Care Gala Raises $2 Million For Charity

    Mar 10 2014 | 11:33am ET

    A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…