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

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...