Sunday, 26 June 2016
Last updated 1 day ago
Jul 23 2009 | 2:24am ET
Rangeley Capital certainly had a quarter for the ages.
The two-and-a-half-year-old event-driven hedge fund soared 50.8% in the second quarter, the firm said in its first-half update to investors. And it needed to: Rangeley erased its first-quarter losses, and finished the first six months of the year up 15.7%, well above the average hedge fund, according to several hedge fund indices.
New Canaan, Conn.-based Rangeley was founded by former Mangan & McColl Partners analyst Christopher DeMuth, and launched its hedge fund in January 2007.