Second Sipprelle Gets Out Of Hedge Funds

May 6 2008 | 11:48am ET

The credit crisis is forcing one hedge fund manager into early retirement.

Dwight Sipprelle, who led Morgan Stanley’s high-yield group before founding Arx Investment Management six years ago, told investors last month that he is shuttering his $1.2 billion Arx Global High Yield Master Securities Fund and retiring from the money management business.

“Asset liquidity is the worst in my career,” Sipprelle wrote. Most of the fund’s asset will be returned to investors “shortly following the end of the second quarter,” with some set aside until a final audit is complete.

The 50-year-old father of five is the second Sipprelle to get out of the hedge fund business in recent months. His younger brother Scott shuttered his $966 million Copper Arch Capital in November.

Through the end of March, Arx Global returned some 150% to investors since inception in February 2002.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...