Hedge Funds

Galleon, Kingdon alums to shut down

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Jeff Bernstein and Godfrey Gill last month decided to shut down their two-year-old firm, Keel Capital Management, after producing only middling returns.

The founders were to return 95% of their $175 million of assets by the end of February, with the remainder to be distributed once an audit is completed.

Prior to launching Keel, Bernstein ran Galleon Capital Management's $350 million Galleon New Media fund from 2000 to 2002, while Gill covered business services and media stocks at Kingdon Capital from 1999 to 2002.

The partners opted for liquidation just two years after launching the fund because institutional