Satellite Asset Management
Satellite Asset Management | Hedge Fund Notes
The following piece on Satellite Asset Management is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.Resource #1: (5.10.09) New York hedge fund Satellite Asset Management is closing its doors six months after suspending redemptions.
The $2.8 billion firm has begun returning money to investors in its three funds, Bloomberg News reports. source
Resource #2 (12.1.08) Satellite Asset Management, founded by former employees of billionaire George Soros, stopped client withdrawals from its three largest hedge funds, Bloomberg reported.
The company also eliminated more than 30 jobs, after losses reduced the firm's assets to about $4 billion this year, according to the report.
Satellite Overseas Fund Ltd, Satellite Fund II LP and Satellite Credit Opportunities Ltd have declined as much as 35 percent in 2008, Bloomberg reported, citing a person with knowledge of the funds' performance. source
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