Launches & Closures Hedge Funds

ACAM to shutter

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The New York-based fund of funds subsidiary of Tokyo firm ITOCHU Corporation is winding down its operations.

ACAM Advisors, the New York-based fund of funds subsidiary of Tokyo wholesale firm ITOCHU Corporation, is shutting its doors. The firm managed about $500 million as of January 2008 and primarily served Japanese investors.

ITOCHU launched ACAM in New York in the early 1990’s in order to give Japanese investors access to global strategies. ACAM managed several funds of funds invested in a variety of strategies, including long/short, global macro, and commodities-focused funds.

Assets at the time of the firm’s close could not be ascertained. Hiroto Satomi, the firm’s ceo and cio, declined to comment. ITOCHU could not