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TIG shuts 15-yr-old emerging markets hedge fund
HONG KONG, March 20 |
HONG KONG, March 20 (Reuters) - TIG Advisors, LLC is liquidating its $210 million global emerging markets hedge fund, according to a letter to investors seen by Reuters, the latest in a growing list of hedge funds that shut shop after their second annual loss in four years.
The 15-year-old long/short equities hedge fund managed peak assets of about $1.5 billion.
"Our Global Emerging Markets funds have been closed and are being liquidated," the New York-based hedge fund said in an e-mail to investors dated March 9, obtained by Reuters.
TIG Global Emerging Markets fund lost nearly 11 percent last year, according another fund information document seen by Reuters, still better than the Eurekahedge Emerging Markets Long Short Equities index which lost 13.6 percent in 2011.
TIG Advisors managed about $1.1 billion under four other hedge fund strategies at the end of February.
E-mails to TIG Advisors remained unanswered.
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