Hedge Funds

Ex-Microsoft executives shutter new fund

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The eight key members of a team that formerly ran Microsoft's $56 billion investment portfolio have shuttered their fledgling hedge fund venture less than a year after it opened for business.

Seattle-based Tahoma Capital was established in the fall of 2005 and launched its global multistrategy hedge fund in March of last year. By June, the firm had reportedly raised $260 million in assets. Much of that capital came from the firm's anchor investor, Avalon Portfolio, a division of Avalon Capital Group, a private investment company owned by Gateway Computer founder Ted Waitt.

Avalon Portfolio held a 50%