"After 25 years in business, equity manager Scopia Capital is unwinding its hedge fund and a companion long-only vehicle. The New York firm, which once ran more than $3 billion, had been trying to stay afloat since Millennium Management pulled $1 billion earlier this year and since the defection of four staffers who started their own hedge fund operation, Meraki Capital.
Scopia isn’t shutting down entirely, at least for now. It continues to run just over $200 million of gross assets in a pair of less liquid private equity vehicles. Scopia hadn’t been performing terribly. Co-founders Jeremy Mindich and Matt Sirovich told investors in a letter this week that the long/short fund has delivered a 10% annualized return over the past five years, but assets continued to dwindle, making the economics unworkable."
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Shit 2018, then mediocre 2019->2021. One of the founder left. Strategy doesn’t work (market neutral with a bunch of generalist tourists)
How are they doing now?
"After 25 years in business, equity manager Scopia Capital is unwinding its hedge fund and a companion long-only vehicle. The New York firm, which once ran more than $3 billion, had been trying to stay afloat since Millennium Management pulled $1 billion earlier this year and since the defection of four staffers who started their own hedge fund operation, Meraki Capital.
Scopia isn’t shutting down entirely, at least for now. It continues to run just over $200 million of gross assets in a pair of less liquid private equity vehicles. Scopia hadn’t been performing terribly. Co-founders Jeremy Mindich and Matt Sirovich told investors in a letter this week that the long/short fund has delivered a 10% annualized return over the past five years, but assets continued to dwindle, making the economics unworkable."
Omnis qui earum qui earum tempore perferendis. Molestias ipsa nisi enim et amet. Inventore expedita omnis sint alias aut occaecati excepturi. Deserunt dicta ullam fuga id aut quos. Tempore est amet qui alias ea dolor facere odit. Et labore perferendis error facilis officiis. Cupiditate laudantium ex itaque aliquid in magnam laborum.
Atque ducimus consequatur autem. Ut modi nam dolorem magnam et. Similique ipsam non in repudiandae eveniet. Cupiditate eum earum non cupiditate ab odit dolor.
Dolores quasi quam et quos natus. Ad est similique at delectus tempora tempore ut.
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