Andor To Close Its Doors

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.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...