Tuesday, 28 April 2015
Last updated 1 hour ago
Aug 21 2008 | 9:13am ET
Pequot Capital Management spin-off Andor Capital Management is closing its doors after losing money this year.
Firm co-founder Daniel Benton is retiring from money management “after 24 years,” he told investors in a letter. “My desire to devote more time to my family and other interests runs counter to the obligations of a hedge fund manager who must be immersed in the markets in order to meet client expectations,” he explained.
Benton and Christopher James set up Andor in 2001. The two split four years ago.
Greenwich, Conn.-based Andor, which manages $2 billion, is down this year, but is not among the worst-performing hedge funds affected by the market turbulence, according to media reports.
Benton said Andor will continue to run its portfolio until the end of September before liquidating. Investors will begin to receive their money back in October, following an outside audit.
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…