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Centaur (Hedge Funds) Go Extinct

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Just a year ago, investors had two Centaurus Capitals to choose from. And even after John Arnold's retirement at the ripe old age of 37 last May, those with a penchant for half-man, half-horse hedge funds still had a place to put their money, albeit in a totally different strategy.

Well, no more: The other, less-successful and less-well-known Centaurus is taking its event-driven strategy and going home, because it is sick and tired of the bellyaching and second-guessing. You'll have to find another hedge fund named for a human-animal hybrid.

(There's got to be one, right?)

The partners of the London-based firm will now only trade using their own cash after investors challenged a decision to focus on so-called "event-driven" strategies such as bets on company takeovers, the source said….

"We have taken the decision to return investors' funds and go private. We are extremely grateful for the support of our investors over many years; however we are keen for the investment flexibility that running our own money will deliver," Randel Freeman, chief investment officer, said in a statement.

Centaurus will also close its Asia office in Hong Kong, four sources familiar with the matter said. The decision will result in the departure of its entire Asia team including fund manager Kim Yu Ang.

Hedge fund Centaurus to return cash, shut Asia office: source [Reuters]
Centaurus Hedge Fund to Return All Outside Money to Investors [Bloomberg]


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