Hedge Funds

Chapman Capital launch attracts $600m


Activist Robert Chapman drew $600 million of "soft circles" for the relaunch of his firm on April 3 but limited his initial take to $300 million.

Chapman said he turned away about $200 million from investors he felt would be either too "high maintenance" or too quick to redeem. He plans to take down another $200 million from his initial investors in July or October. His startup investors, mostly funds of funds and family offices, will also have preemptive capacity rights on any subsequent offerings, meaning they will be offered a prorata share before the fund is opened