Steelhead Partners LP
Steelhead Partners LP | Hedge Fund Notes
The following piece on Steelhead Partners, LP is being published as part of our Hedge Fund Tracker Tool, our daily effort to track hedge funds in the industry.
Steelhead Partners’ Navigator Fund, a $450 million long/short hedge fund, suffered its biggest drawdown last month, but it’s still outshining many of its competitors in an otherwise gloomy market.
The fund lost 22.65% last month, halving its year-to-date returns. But it is still up 20.62% on the year, while the rest of the industry is not doing so well, down anywhere from 10.24% to 13.2%, depending on the index. Unfortunately for investors fleeing those funds, Navigator, which began trading in January 1997, is closed to new money.
Steelhead also manages the Pathfinder Fund, a convertible arbitrage vehicle, which has not fared as well as its predecessor. The $56.5 million fund dropped 7.96% last month, leaving it down 3.58% year-to-date. Read More...
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