JD Capital Management is pulling the plug on its flagship multistrategy fund. This Monday, founder David Rogers told investors that the Tempo Master fund, which managed as much as $1.3 billion in 2007, will be unwound following heavy losses.
Like many of JD Capital’s peers, Rogers said the fund suffered because of exposure to what he referred to as some of the most troubled portions of the market. He said the Greenwich, Conn., firm will continue managing money, shifting its focus to volatility arbitrage. On June 1, JD Capital launched the Tempo Volatility Fund, requiring a minimum investment of $5