Salida Capital Fund Down 34% In Oct.

Nov 5 2008 | 3:07am ET

Toronto-based Salida Capital Corp.’s flagship hedge fund lost more than one-third of its value last month, as the value of its private equity investments collapsed.

The firm’s Multi Strategy Hedge Fund, which has fallen 63% this year to just C$76 million (US$65.7 million), blamed the declines on renegotiated mergers, which forced it to write down the value of its p.e. portfolio by more than 40%. One-fifth of the fund’s assets are in private equity.

“The current market environment has been one of the most painful we have seen,” CEO Courtenay Wolfe, chief investment officer Danny Guy and fund manager Brad White wrote to investors. They appealed for patience before clients head for the door, noting its double-digit gains in recent years.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note