Saturday, 28 November 2015
Last updated 18 hours ago
Jun 20 2008 | 2:00am ET
New York-based Manhasset Capital is reportedly liquidating its hedge funds and shutting down at the end of the month after its seed investor pulled out its $100 million investment in the funds.
Manhasset’s Fairfield Manhasset Offshore fund and its onshore version managed $165 million in total assets, all from Fairfield Greenwich Group, a $16.4 billion hedge fund shop, and two other investors, according to HFAlert. Fairfield seeded the offshore vehicle and had a three-year profit-sharing agreement with the firm. The agreement expired on May 1.
Fairfield confirmed its redemption stating, “As part of a normal rebalancing of capital, FGG has indeed decided to close its co-branded single manager fund, Fairfield Manhasset Offshore Fund Ltd., which we created as part of an agreement with Manhasset Capital Management. However, we cannot comment on any of Manhasset Capital's choices; they run their own business and have their own investors, and it would be incorrect to state that FGG had caused Manhasset's current or future decisions.”
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…