Saturday, 18 April 2015
Last updated 20 hours ago
Apr 8 2008 | 11:51am ET
Some of the biggest and most respected names in the hedge fund industry are suffering through their worst-ever drawdowns.
Renaissance Technologies, the quantitative firm headed by James Simons, has seen its $18 billion Institutional Equities Fund drop 12% since it peaked in last May—its largest-ever maximum drawdown. Institutional Equities is down 6.64% this year, Bloomberg News reports, and has seen assets drop more than 14% due to the losses and client redemptions.
Another top firm seeing big losses since peaking is Traxis Partners, which has lost 15% since the end of September 2007. And Tiger Management veteran Stephen Mandel’s Lone Cedar Fund, managed by his Lone Pine Capital, is down 10.6% from its December 2007 high.
New York-based Satellite Asset Management’s Satellite Overseas Fund is also suffering, dropping 9.6% since the end of October 2007.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…