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California Hedge Fund is Latest Europe Crisis Casualty


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I looked up a couple of these managers.  Why is it that so many close, simply to open another fund the next year or down the road?  Is it because they will not receive any incentive fees until they recoup their high watermark?


For example, JCAM's James Caird is closed his $1.2B fund in 2011 after being down 8.9%, only to open a $500M replacement in 2012!




Interesting article on Bacon and Moore Capital.  I did a Google Search to come up with the article, but the website is about what I expected for the hedge fund industry to come up with.  Sheesh!  What is it with hedge fund guys?  Cheers!



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