One year ago
Serengeti Asset Management partner Matthew Root, who had
been responsible for business development and investor
Root landed on his feet this year at
freshly-merged fund of funds Kenmar Olympia Group as a
senior managing director.
Serengeti recently named his replacement: Daniel Eichner,
formerly a managing director for investor relations at private
equity shop Garrison Investment Group.
Goldman and Serengeti analyst goes solo
>> Small cap-focused
GROW Partners launched with $50 million from two investors:
TCW founder Robert Addison Day's multifamily office and
investment bank ROTH Capital.
The GROW Small Cap Long/Short Equity Fund, which launched in
April, was down 5.65% by yearend, worse than the 0.27% slide
Absolute Return U.S. Equity Index (see the fund's full
here). Despite the rocky start, the fund ended the year
managing about $64 million and now has approximately
This year, the fund has already surpassed its losses,
gaining 14.36% in the first quarter of 2013 and blowing past
the 3.36% median return for the benchmark. "We're happy to have
good partners, a good team and pleased to be managing a small
cap portfolio," Wiese said this week.
Five years ago
York Capital Management hired two executives from insurance
company Leucadia National Corp. as co-heads of the York Special
Opportunities Fund, the firm's inaugural push into private
The move has been a stunning success, with the fund
generated an internal rate of return of 21.5% through the end
of last year, according to investor documents obtained by
Absolute Return, propelling York to set a fundraising
target of $500 million for a second vehicle, the York Special
Opportunities Fund II, in the first half of this year.
Meanwhile, the two heads of the business, Zalmie Jacobs and
Luis Madeiros, remain with York as part of a seven-person PE
team. The fund's most recent profit-taking came from the sale
in September of a stake in Shell Vacations, which netted a 3.8x
return, the documents indicate.
Kelly Smith, an external spokesman for York at PR firm
Abernathy McGregor, declined to comment.
See returns for the firm's hedge funds