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

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note