The Latest Hedge Fund Casualty: Standard Pacific Capital Is Liquidating

The Latest Hedge Fund Casualty: Standard Pacific Capital Is Liquidating

Tyler Durden’s pictureSubmitted by Tyler Durden on 02/04/2016 16:05 -0500
http://www.zerohedge.com/news/2016-02-04/latest-hedge-fund-casualty-standard-pacific-capital-liquidating

It has been at least a week without news of a prominent hedge fund liquidating, so when moments ago Reuters reported that once prominent hedge fund, SF-based Standard Pacific, which a decade ago managed over $5 billion, is the latest casualty of broken markets and has decided to shut down things once again reverted back to normal.

From Reuters:

Standard Pacific Capital, the stock-focused hedge fund firm led by Doug Dillard and Raj Venkatesan, is shutting down, according to a letter sent to investors seen by Reuters.

“After 21 rewarding years, Standard Pacific Capital has decided to return capital to investors across all of our strategies,” the letter said. “It has recently become clear to both of us that sometimes there is a logical conclusion to even a good thing. We decided that now is that time for Standard Pacific.”

It was not immediately clear what the final AUM of the stock-focused hedge fund firm led by Doug Dillard and Raj Venkatesan, was but what we do know is the fund’s latest 13-F holdings listed 25 long equity names, amounting to a total of $100 million which will now be unwound.

We continue to expect many more marquee 2 and 20 collecting asset managers to call it a day in the coming weeks and months as nobody can even pretend this central bank dominated, HFT-rigged “market” makes any sense any more.

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