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 with...
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