Hedge Funds

Sandell set to roll out new higher-octane version of flagship Castlerigg structure


Tom Sandell is preparing to launch a new version of his $4.7 billion Castlerigg Fund that will be more aggressive about taking on risk - and will likely produce higher returns.

 Tom Sandell

The Castlerigg Global Select Fund, to be managed by Sandell himself, will take more concentrated positions and assume more directional risk in global special events than his event-driven multistrategy flagship. As a result, it is also expected to be more volatile.

Through September, New-York-based Castlerigg netted just 3.99%, making it difficult for the firm to match its nine-year annualized return of 14% by year-end.