Mon, May 2, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n