Fund launches & closures Hedge Funds

Michael Litt’s Arrowhawk to close

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The former FrontPoint partner’s multistrategy firm could not attract enough of the institutional investors it had sought.

 
  Michael Litt (Photo: Bloomberg)
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 Partners.

“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