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Alternative Market Briefing

Stark Investments wind down hedge fund

Monday, April 15, 2013

From Precy Dumlao, Opalesque Asia – Global hedge fund firm Stark Investments is closing down its operations after assets fell by 85% from its peak of $14bn to $2.1bn as at the end of last year.

According to the Journal Sentinel, Stark informed the Securities and Exchange Commission of its plan to close down all the funds it acquired from Deephaven Capital Management in 2009 except the Stark Energy Investors LLC, which it would continue to operate.

"The process of closing, or winding down, the funds could take some time because the funds' holdings are primarily illiquid, hard-to-value securities/assets," Stark was quoted as saying in its SEC filing by the report.

Stark Investments started out as a small business in Mequon and expanded to hiring some 400 people and moved to Lake Michigan in St. Francis. But the 2008 global economic crisis, coupled with redemption requests from clients and other factors saw the fund dwindle to its current size.

The hedge fund already told investors it would wind down its operations to focus on a single strategy.

In June last year, Stark closed down its multi-strategy hedge funds due to a "meaningful reduction" ......................

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