Severn River gives back investor capital

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Scott Roth's Greenwich, Conn.-based Severn River Capital Management is giving back all investor capital following losses of 7.68% since its July 2004 inception.

The firm plans to keep its two funds open with whatever capital remains from founders and from those investors who seek to remain in the fund. The partial liquidation will conclude by the end of March, at which point Roth will pursue a concentrated opportunistic strategy, mostly in equity and some distressed debt. Roth said that when he begins raising new money, he will consider requiring a lockup of as long as three years.

Roth launched