Hedge Funds

Castlerock prepares for soft close as assets roll in

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Paul Tanico and Ellen Adams' Castlerock Management is getting ready to soft close its flagship long/short equity fund. The fund has taken in more than $100 million since January 1, and its assets now stand at $630 million. The firm plans to close the portfolio at $750 million, which at the current rate of fundraising could take place by yearend.

About 60% of the recent fundraising has consisted of money from new clients, with the bulk of that coming from institutional investors.

The flagship Castlerock Partners pursues a long/short equity strategy focused on large-cap and midcap stocks. The portfolio