Deephaven Posts Loss, Sees Assets Fall

Jul 17 2008 | 10:18am ET

Deephaven Capital Management’s fee income fell for a fourth straight quarter, causing parent Knight Capital Group to miss analysts’ profit estimates.

Minnetonka, Minn.-based Deephaven—which analysts had expected to benefit from market volatility—posted a pre-tax loss of $7.9 million in the second quarter. During the same period last year, it earned $6.3 million. Assets under management have fallen 21%, to $3.3 billion, from the year-earlier period. Its hedge funds have posted an average loss of 5.4% for the year.

Jersey City, N.J.-based Knight said net income climbed 20% on the quarter to $29.4 million, not enough to overcome the bad news from Deephaven. Knight’s profit was 32 cents per share, 2 cents shy of analysts’ expectations.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.