Hedge Funds

Troubled Camulos to liquidate portfolios

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The Soros spinout, founded by Richard Brennan and William Seibold, managed $2.65 billion at its peak.

Camulos Capital, which spun out of Soros Fund Management in 2005 and managed $2.65 billion in January 2008 at its peak, is liquidating its flagship multistrategy credit fund. Following a strong start, the firm suffered from a dispute among the founders that evolved into a nasty courtroom battle, and a traumatic loss in 2008 that led to the suspension of redemptions and resulted in an investor lawsuit that sought to have the flagship closed.

In a letter to investors dated October 29, founding partner and chief executive Richard Brennan wrote that the firm has begun the complicated process of