Ramius To Shutter Four Hedge Funds

Dec 3 2008 | 10:26am ET

Ramius Capital Group is closing four hedge funds.

The New York firm will shutter the funds, which manage a combined $550 million, it told investors. The funds cover such strategies as convertible bonds, distressed credit and merger arbitrage.

According to The Wall Street Journal, the firm will continue to manage the four strategies as components of its multi-strategy offerings, though it is unclear how many of their assets will move to those funds. Ramius also said that the funds’ management teams will remain in place.

Of course, its flagship multi-strategy offering, the $2.1 billion Ramius Fund, is down about 23% this year and could lose about $500 million in assets on its own due to investor redemptions.

The fund closures are the latest in a string of cutbacks for Ramius. The firm in recent weeks has reduced its investment staff in Hong Kong, decided to sublease a portion of its new Lexington Avenue digs and slashed fees in an effort to convince investors not to pull their money.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

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

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note