Launches & Closures Hedge Funds

Hudson Bay preps second fund, closes flagship to new investors


Sander Gerber’s firm shines in an off year for many hedge funds.

  Sander Gerber

In a down year for the average hedge fund, Hudson Bay Capital Management’s solid performance has made for happy investors.

Hudson Bay’s assets have increased by 51% in the past 12 months, to about $1.1 billion. The firm’s flagship Hudson Bay Fund, a multistrategy vehicle, recently closed to new investors and a new event-driven and merger-arbitrage fund is being planned, according to people with knowledge of the situation. Previous investors can still add to their allocations to the main fund.

The flagship fund is up