Late rally helps managers reverse losses


A late-month rally in stocks boosted the S&P 500 up to a 3% finish for the month of May, which gave a boost to many long/short equity funds and reversed earlier losses in the month for many managers.

Dave Fiszel's Rhombus Capital had a strong May, posting a 5.75% gain. Brett Barakett's Tremblant Partners LP also had a big month, notching a 7.50% gain to bring its year-to-date return to 5.40%.

Steve Cohen's SAC International gained about 1.79% for the month, while the SAC Global Diversified Fund returned about 1.46%. Bricoleur Partners II LP notched a 9.96% gain, which