Fund launches & closures

Roc liquidates flagship and plans to start over

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Arvind Raghunathan's once $1.1 billion quant firm is launching a new fund after shutting its long-underwater flagship fund.

  Arvind Raghunathan of Roc Capital 
   Arvind Raghunathan
(Photo: American India Foundation)
Roc Capital Management, Arvind Raghunathan's once fast-growing quantitative equity hedge fund firm, which boasts backing from Deutsche Bank and the billionaire Mittal steel family, is liquidating its flagship fund and starting over with a new employee-funded vehicle after failing to recover from early losses.

The Roc Capital Partners Fund will complete its wind down today, according to people familiar with the situation. Roc had $642 million in discretionary assets under management as of March 1, according to its most recent Securities