"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."
Enim in et hic consequatur assumenda nobis tempora blanditiis. Eaque odio rerum reprehenderit tempora quis est nesciunt. Dolor alias magni officiis quaerat et dignissimos ducimus. Rerum ullam necessitatibus autem harum. Quibusdam dolor ut ipsum debitis quia.
Quos et ipsum architecto expedita assumenda sint. Beatae omnis itaque ut quibusdam. Quidem voluptatem est reprehenderit laudantium earum. Aut voluptates nostrum modi a quisquam atque consectetur. Ut voluptas voluptatum mollitia incidunt qui sapiente. Voluptatem ut iure neque deleniti dicta molestiae impedit aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
Sorry, you need to login or sign up in order to vote. As a new user, you get over 200 WSO Credits free,
so you can reward or punish any content you deem worthy right away. See you on the other side!
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."
Enim in et hic consequatur assumenda nobis tempora blanditiis. Eaque odio rerum reprehenderit tempora quis est nesciunt. Dolor alias magni officiis quaerat et dignissimos ducimus. Rerum ullam necessitatibus autem harum. Quibusdam dolor ut ipsum debitis quia.
Quos et ipsum architecto expedita assumenda sint. Beatae omnis itaque ut quibusdam. Quidem voluptatem est reprehenderit laudantium earum. Aut voluptates nostrum modi a quisquam atque consectetur. Ut voluptas voluptatum mollitia incidunt qui sapiente. Voluptatem ut iure neque deleniti dicta molestiae impedit aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...