Hedge Funds

Cambium shuts up shop


Cambium Capital Management, a Charlotte, N.C., long/short equity fund that held $130 million in assets at its peak, has shut down following the loss of a major investor. The firm, which launched in 2002, is currently returning money to investors, according to the Charlotte Observer.

The Observer reported that the fund's investment performance had been improving in recent months. "We provided good risk-adjusted returns for our investors," chief investment officer Robert Deaton told the paper.

The shutdown comes despite efforts to ensure the integrity of its investor base. Tom Young, CEO of Cambium Capital, was in the practice of sending