Hedge Funds Performance

Seminole to close to new investors

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Michael Messner and Paul Shiverick have had a good 2010, and are planning to soft close their flagship fund at yearend.

With solid 2010 performance so far this year, Michael Messner and Paul Shiverick will be closing their flagship long/short equity fund, Seminole Capital Partners, to new investors at yearend. The $1.233 billion fund was up 10.7% for the year through October 15.

Seminole Management Company oversees $1.4 billion, which includes the flagship fund and the $141 million Seminole Small Cap Fund. About one quarter of the firm’s assets are composed of Messner’s and Shiverick’s personal capital. The firm managed $1.25 billion in hedge fund assets as of July 1, up from $1.07 billion on July 1, 2009, according