Wisconsin-based Stark Investments has liquidated its Stark Europe Fund, citing a lack of opportunities in European convertibles. Most of the money has apparently been switched into the firm's big global multi-strategy vehicle, Shepherd Investments.
The $35 million fund was always just a small offshoot of the $4 billion shop's multi-strategy product range.
The decision to shut down the fund continues a trend that has already seen various other managers, including Axis Capital and Gartmore, shut down convertible strategies in Europe this year.
Stark continues to run two other geographically-focused funds that focus on small sub-sectors of its huge multi-strategy master