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Anyone Looking For A Lakefront Office Sublet?

Pine River Capital Management may have some extra space.
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Class A office space. By McGhiever (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Class A office space. By McGhiever (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Back in 2002, exiled by a non-compete that barred him from the greater Minneapolis area for a year, Brian Taylor launched a little hedge fund in his lakeside cabin. The town gave its name to the firm, Pine River Capital Management, which soon abandoned the shores of Lake Norway for those of Lake Minnetonka as its assets grew to $1.6 billion and then $15 billion, before falling back to $8.5 billion and then spinning a bunch of things off and closing a bunch of other things and bidding farewell to a few people, and the next thing you know, Taylor’s keystrokes are echoing through the empty halls of that Pine River cabin/potential hedge fund incubator.

Hedge fund firm Pine River Capital Management's flagship fund has lost about 68 percent of its assets in the 12 months to July, according to data compiled by HSBC.

Assets in the multi-strategy fund dropped from $2.99 billion in July 2016 to $960 million in July 2017, the data showed….

Pine River is currently changing some of its trading strategies, and ending long-short equity trading, according to a report from Bloomberg in July.

Hedge fund Pine River loses $2 billion in 12 months to July [Reuters]


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