Friday, 27 March 2015
Last updated 3 hours ago
Oct 31 2008 | 12:20pm ET
Steelhead Partners’ Navigator Fund, a $450 million long/short hedge fund, suffered its biggest drawdown last month, but it’s still outshining many of its competitors in an otherwise gloomy market.
The fund lost 22.65% last month, halving its year-to-date returns. But it is still up 20.62% on the year, while the rest of the industry is not doing so well, down anywhere from 10.24% to 13.2%, depending on the index. Unfortunately for investors fleeing those funds, Navigator, which began trading in January 1997, is closed to new money.
Steelhead also manages the Pathfinder Fund, a convertible arbitrage vehicle, which has not fared as well as its predecessor. The $56.5 million fund dropped 7.96% last month, leaving it down 3.58% year-to-date.
The firm was co-founded by Michael Johnston, a former co-manager of corporate bonds and equities for Loews Corporation, and Brian Klein, an ex-executive director in the equities division at Goldman Sachs.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…