Launches & Closures Hedge Funds

Prentice contemplates new fund launch

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Prentice Capital Management isn’t letting major losses in its flagship fund get in the way of new ventures. The firm is contemplating launching Prentice Capital Management Long/Short Equity Fund, a portfolio that would focus on trading publicly listed retail and consumer stocks.

The potential new fund follows a turbulent period for Prentice, which was launched in 2005 by former SAC Capital Advisors trader Michael Zimmerman. The firm’s Prentice Capital Management fund reportedly lost as much as 88% in 2008, a decline that set off a mass of redemption requests and spurred the firm to halt redemptions late last