Wednesday, 20 August 2014
Last updated 2 hours 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the 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. Read more…
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 Editor's Note