Arcadia Capital Advisors returns assets, seeks new partner
November 28, 2011
Lawrence Delevingne
The firm’s seed deal with MD Sass and Macquarie recently expired.
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Richard Rofé
Photo: LinkedIn
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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 with...
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