One year ago
Sabretooth Capital Management, led by
Erez Kalir and Craig Perry, netted 38% in 10 months betting
on low U.S. interest rates through its $50 million Yin hedge
That was pretty much the only good news for the
Tiger seed, however, as its flagship macro fund collapsed
20.9% in 2011, compared with a 1.17% climb for the
Absolute Return Macro Index. In April, Kalir and Perry told
investors they had made the "
painful decision to dissolve the fund" and all of their
"The two of us have really struggled to get in synch and row
the firm in unison together over the last six months," Kalir
told AR by telephone at the time.
Perry has been hired as a senior analyst with Panning
Capital, the upcoming new launch from ex-King Street head
trader Kieran Goodwin. As for Kalir, he told AR this
week, "I’m still laying the groundwork for my next
Rick Abeyta shut down his $242 million 360 Global Capital
following a full redemption by its largest investor, and
"historic market volatility," as he termed it in a letter.
The Stadia Capital veteran was down 2.31% for the year
through July (full performance
here) in an equity strategy focused on media, telecom,
energy, utilities, industrials, materials and transports,
according to marketing materials. All in all the firm had
produced a net annualized return of 6.18% since it
starting trading in August 2008.
Abeyta has since signed up as a consultant in an investment
role at Rick Gerson’s $1.2 billion
Falcon Edge Capital, which launched in July.
360 Global gains commitments •
360 likes tires •
Startup keeps faith in chicken, video games
Five years ago
Caxton Associates founder
Bruce Kovner gobbled up 12 adjoining acres in
California’s Santa Barbara County in deals
totaling $70 million.
now-retired executive owns an oceanfront estate on property
in the area, according to
BillionairesHomes.com. Aerial photos show a four-winged
estate, with a pool and extensive manicured lawn.
His former colleagues may be less comfortable:
Caxton’s $7.2 billion Global Investment macro fund
is down 3.32% this year through the end of August, according to
an investor update from HSBC Private Bank. The Absolute Return
benchmark was up 2.36% during the same time period.
Bruce Kovner donates $20 million to Julliard
Q+A with Kovner