Peloton Puts London Offices On The Market

Mar 10 2008 | 11:52am ET

There’s more to a hedge fund going out of business than merely returning investors their money, or what’s left of it. With no money left to manage, office space becomes redundant.

With that in mind, soon-to-be-defunct London hedge fund manager Peloton Partners, which has already liquidated one fund battered by losses in mortgage-backed securities and is in the process of doing the same with its remaining Multi-Strategy Fund, is looking to escape its lease at a former Ford Motor Co. design studio in London’s posh Soho neighborhood.

According to the Financial Times, the firm, founded by Goldman Sachs veterans Ron Beller and Geoffrey Grant, is looking to minimize losses for the partnership. Beller and Grant have already lost US$117 million each in the collapsed ABS Fund, and its 7,000-square-foot offices on Broadwick Street could cost them as much as £450,000 per year (US$900,000)—not bad for London’s West End, but excessive for an operation without any operations.


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

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

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...