Michael Litt’s Arrowhawk to close
By Lawrence Delevingne
Tue Dec 20, 2011
The former FrontPoint partner’s multistrategy firm could not attract enough of the institutional investors it had sought.
Arrowhawk Capital Partners, Michael Litt's $575 million
multistrategy firm, is shutting down. The firm was not stung by
massive withdrawals or particularly poor performance, but was
having difficulty reaching the critical mass of assets
necessary to fully emulate the type of multi-manager platform
Litt had helped construct as an early executive at FrontPoint
|| Michael Litt
"The environment for small multi-strategy funds is as bad as
advertised and institutional direct investments are currently
focused on mega cap funds," Litt wrote in an email to AR.
"While we have received no redemption notices from our
investors, the partners have concluded that we cannot
realistically sustain an institutional infrastructure and
investment team line-up until 2013 to...
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