Arcadia Capital Advisors returns assets, seeks new partner
By Lawrence Delevingne
Mon Nov 28, 2011
The firm’s seed deal with MD Sass and Macquarie recently expired.
Arcadia Capital Advisors, the hedge fund firm run by Richard
Rofé, is liquidating some of its positions and seeking a
new partner following the end of its money management contract
with seeding fund MD Sass-Macquarie Financial Strategies.
The activist hedge fund firm's seed deal ended on October 31
and Arcadia is in the process of returning funds-about half of
its approximately $24 million, according to Rofé-to the
MD Sass-Macquarie joint venture and Rofé, the sole
investors. The fund is down 11.99% for the year through
November 28, but Rofé says he is in discussions
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