Hedge Funds

Former statistical arb star closes after failing to make money


Statistical arbitrageur Glacis Capital Management has liquidated after a run of poor performance and subsequent investor redemptions.

Founded by Stephan Mohler, a former CSFB proprietary trader who became one of the bank's youngest-ever managing directors at age 28, the firm attracted a surprising $300 million to $500 million at its launch at the beginning of 2003.

But the New York firm suffered a deep drawdown in its first year and lost money again in 2004. Heavy redemptions eventually prompted Mohler to close the firm.

Prior to joining CSFB, Mohler also worked in stat arb at D. E. Shaw.

Glacis' closure followed