Hedge Funds

Intrepid and Lucera shutter healthcare


Steve Shapiro's Intrepid Capital Management and Erick Lucera's eponymous shop, Lucera Capital Management, plan to dissolve the healthcare fund they launched jointly in 2005. The Triathlon Life Sciences Fund will shut down by June 30. Its dissolution follows what is said to be single-digit annual performance.

The fund was managed by Lucera in a shared venture between his Boston-based shop and Shapiro's New York-based Intrepid. Triathlon held nearly $183 million in assets as of last June, according to a filing with the Securities and Exchange Commission from that time. That filing lists Lucera Capital as the controlling operator,