Monday, 27 April 2015
Last updated 2 days ago
May 2 2008 | 2:00am ET
Rumson Capital, the $500 million convertible-bond arbitrage is reportedly heading towards the hedge fund scrap heap thanks to the ongoing credit crisis.
The firm has notified its investors that it is winding down its Navesink Equity Derivative Fund by June 30 because redemptions have cut the fund’s assets in half from a peak of $570 million last year, Hedge Fund Alert reports. The fund was down 13% in the first quarter.
Rumson was founded in 1993 by John Burke, portfolio manager and managing partner. E.J. Werner, head of trading, and Lothar Sroka, head of systems and research, round out the soon-to-be-defunct firm’s management team.
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…