Wall Street Folly

Add William von Mueffling’s Cantillon capital to the list of larger hedge funds (like Pequot and Raptor) that’s shutting down. Instead of running his two hedge funds which have a combined $3.5 billion in assets, he’ll focus on a long only strategy. Read the rest of this entry »

Tags: Cantillon Capital, closing the doors, Fees, Hedge funds

Sounds like it’s all about the fees:  Add another under water hedge fund manager,  George Noble, to the list of those who’ve announced that they’re shutting their doors today.  Like Jim Pallotta, he’ll be rethinking his strategy and hopes to raise  more outside money in the near future, according to the WSJ.  Translation:   High water mark? No problem!  Just open a new fund and restart that fee meter! Read the rest of this entry »

Tags: closing the doors, Fees, Gyrfalcon, Hedge funds

It was just a few days ago that Art Samberg shocked the investment world saying he was shutting down Pequot Capital.  Now another big name fund is closing its doors.  James Pallotta will wind down his Raptor Global Funds which was spun out of Tudor Investment at the end of last year with $1.5 billion in assets after 2008 losses of 20% and big investor withdrawals.  He’ll start returning money to investors next month.   According to Bloomberg,  after taking off a few months off,  he’ll apparently develop a new investment strategy.   Hmmmmm.   Is it our imagination, or does it sound like a case of another fund manager escaping a high water mark to restart the fee meter? Read the rest of this entry »

Tags: closing the doors, Fees, Hedge funds, James Pallotta, Paul Tudor Jones, Raptor, Tudor Investment