Hedge Funds

Convexity lockups to expire; fund raising money.

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Convexity Capital Management, the firm run by former Harvard Endowment chief Jack Meyer, is raising capital - at a time when the fund's initial lockup is set to expire. Convexity measures itself against benchmarks and last year returned 4.51% above them, net of fees. On an absolute return basis, it lost 6% during the year, ending with a net asset value of $8.56 billion.

"It was a long stressful year," the Convexity team wrote in its fourth-quarter investor letter. Convexity noted that the three-year lockup for initial investors expires on March 31, at which time they can withdraw up