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Thaddeus shuts $300 mln Asia hedge fund - source
HONG KONG |
HONG KONG Feb 9 (Reuters) - Hong Kong-based Thaddeus Capital Management has shut its Asia event-driven hedge fund, a source with direct knowledge of the matter said, joining a growing list of shuttered regional managers.
Thaddeus Asia Event Driven Fund, which managed just over $300 million, was down about 8 percent last year, the source said.
By comparison, regional hedge funds as measured by the Eurekahedge Asia index were down 8.5 percent, while event-driven hedge funds were up 1.8 percent in 2011.
The firm, founded in late 2006 primarily by a team from now-defunct HDH Advisors, decided to liquidate in October last year after some European investors decided to pull out.
It returned money to all investors earlier this year, the source said, declining to be named as the matter was private.
Thaddeus Chief Executive Paul Sheehan declined to comment. (Reporting by Nishant Kumar)
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