Hedge Funds

Ardsley looks to acquire Ridgecrest

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It well may be the homecoming of the year for the hedge fund industry. Ardsley Advisory Partners' chief Philip Hempleman is in talks with one of the firm's past - and possibly future - partners, Sanford B. Prater.

Discussions revolve around bringing Prater and his New York-based hedge fund shop, Ridgecrest Investment Management, into the Ardsley fold through either acquisition or strategic investment, insiders say. Prater has been running his own firm since 1999.

While Ardsley, founded in 1987, is one of the oldest hedge fund shops around, Ridgecrest remains comparatively small and less known with reported equity