Launches & Closures Hedge Funds Redemptions

Doubling down fells troubled Okumus


Piling on the leverage last summer, in an attempt to make up for prior losses, led to the eventual collapse of Ahmet Okumus's long-troubled equity-driven strategy. And it has left investors holding redemption checks from the unwinding of his funds that in some cases represent less than half of their invested capital.

The harsh bear market of 2008 delivered a decisive thumping to Okumus Capital's preferred long equity strategy, which had been hurting for more than a year. The firm's signature Opportunity Fund was down 57.26% as of November 30 - the last reporting period available to Absolute