Archeus to shut down by yearend


New York-based Archeus Capital Management, the firm founded by Peter Hirsch and Gary Kilberg, is returning investor capital and will be officially closing its funds by yearend.

The decision to close comes after a rough year in which firm assets have declined by more than half due to a combination of uninspiring performance in its flagship multistrategy fund and delays in the issuance of audited financial statements.

Hirsch, a former bond trader at Salomon Smith Barney, and Kilberg, formerly of ABN Amro and UBS, launched the flagship Animi fund in May 2003 with approximately $100 million and a staff