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Alternative Market Briefing

Lasair Capital's long/short equity hedge fund strategy to close down

Monday, September 17, 2012

From Precy Dumlao, Opalesque Asia – New York-based shop Lasair Capital announced that its long/short equity strategy hedge fund would close down; the firm, founded by Mrs. Carrie MCCabe in 2008, will return the AuM ($250m) to investors. Lasair will continue to exist after the fund is wound down.

According to a Reuters report, McCabe already informed her clients of her decision to shut down the fund. Lasair invested money in underlying hedge funds for some large pension funds, including the Illinois Teachers’ Retirement System. The firm was backed by General Electric’s asset management unit.

Reuters quotes McCabe as saying, "Lasair has considered a number of opportunities and decided this is the best course of action."

McCabe received national and state certifications as a Woman Owned Business Enterprise from the Women's Business Enterprise National Council and New York State Department of Economic Development, Division of Minority and Women's Business Development for Lasair Capital in February 2011.

In October last year, McCabe told Opalesque TV in an exclusive intervi......................

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