Oceanwood Capital Management Closes Its Fund to New Investors
Following to sources with direct knowledge, Oceanwood Capital Management, a Europe-focused hedge fund, has closed its fund to new investors after its assets under management hit $2 billion.
Oceanwood,
a multi-strategy hedge fund spinout from Tudor Group, started the year
at $1.28 billion and raised money this year from clients including a $50
million investment from School Employees Retirement System of Ohio
(SERS).
"We
plan to take some time to digest the recent growth, as well as ensure
that we have the appropriate level of infrastructure and resources in
all areas of the organisation," the source said, citing a letter to
investors sent by Oceanwood.
Hedge funds often close doors to investors for fear that taking on more assets would harm returns.
Oceanwood
Opportunities Fund, led by Chief Investment Officer Christopher Gate, a
former Goldman Sachs executive, returned 1.34 percent through September
this year after gaining 22 percent in 2013 and 25 percent in 2012.
Source: Reuters
