Dawson-Herman Capital Management is shutting down its once high flying Southport Millennium hedge fund. Word from inside is that friction is mounting between co-founders John Dawson and Russell Herman over last year's performance, and traders have flooded the street with resumes in the last few days. It's unclear at this time if John or Russell (AKA "Russ") will stay with the firm. In its heyday Southport Millennium logged an AUM of over one billion but what's currently left in the coffers is unknown.
Dawson-Herman was started in 1981 and lays claim to grooming the SEC's favorite insider trader Art Samberg. DHCM runs a long-short equity strategy with $4 billion of assets out of CT and NYC.
Dawson-Herman did not return calls for comment.