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'Unforeseen Circumstances' Shutter Ritchie Capital's Multistrategy Global Fund

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Bloomberg reports that RC (which manages approximately $2.8 billion) will refund "80% of clients' money over the next 2 1/2 years and keep the fund open for at least three years." The Multistrategy Global Fund lost more than 2% from the beginning of 2005 through this past August, the "unforseen circumstances" apparently being "that we'd lose a ridiculous amount of money."
Ritchie Capital to Shut Flagship Multistrategy Fund [Bloomberg]

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