Launches & Closures Hedge Funds

Prentice contemplates new fund launch


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