Fri, Aug 28, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Michael Karsch to close down $1.8bn hedge fund firm

Thursday, August 29, 2013

Komfie Manalo, Opalesque Asia:

Various media reported that Michael Karsch is shutting down his 13-year-old hedge fund firm Karsch Capital Management and would return most of the firm’s $1.8bn assets to investors by the end of September, and the rest in January after the fund’s audit.

New York-based Karsch Capital is mostly invested in Yahoo Inc. and Expedia. The flagship hedge fund was up 6.1% YTD through mid-August and outperformed the Standard & Poor’s 500 index by at least 100 percentage points over its life span with one-third of the volatility, said Karsche in a letter dated Aug.28, according to 4-traders.com. The firm also manages a $500m long only fund which returned 16%.

The 45-year old manager also said in the letter; "I feel as I approach twenty years as an investment manager, it is time for me to take a step back, reflect on my experiences and begin to think about the next chapter of my career," Bloomberg reported.

Karsch did not mention his next move but he said in his letter that he was "very excited about the opportunities that lie ahead."

Karsch founded the fund management firm in 2000, after working as a managing director at Soros Fund Management LLC and in an inve......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Commodity hedge funds lose most in three years as rout deepens, Funds bet on Shell deal as oil prices plunge[more]

    Commodity hedge funds lose most in three years as rout deepens From Bloomberg.com: Hedge funds betting on commodities lost the most in almost three years in July as the price-rout deepened. Funds lost money for a third month, according to the Newedge Commodity Trading Index, which was re

  2. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  3. JTC acquires Kleinwort Benson’s fund administration business[more]

    Bailey McCann, Opalesque New York: JTC has completed the acquisition of Kleinwort Benson’s fund administration business, boosting assets under administration (AuA) to $56 billion. Kleinwort Benson is based in the Channel Islands, South Africa. The transaction, which relates to the whole of K

  4. Performance - Hedge funds set to bank millions by short selling during London share slump, The China market chaos has made this hedge fund its most money in 2 years, Odey hedge fund said to surge 9% betting against China, Hedge funds with long-held bearish views on China rack up profits, Hedge funds in U.S. seen curbing damage from August turbulence, Hedge funds collect on their predictions of a fall, How did managed futures do while the Dow was down 1000[more]

    Hedge funds set to bank millions by short selling during London share slump From TheGuardian.com: Hedge funds are set to bank tens of millions of pounds from the slump in share prices in London, having bet almost £18bn that the FTSE 100 would fall. The funds making the bets include Lansd

  5. Opalesque Exclusive: John C Head IV leaves alternative investment firm Gallery Capital, David Harrison joins as co-CIO[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: John C Head IV, former president and co-founder of Gallery Capital Management, an alternative inv

 

banner