Current news for this fund:
Satellite Asset Management - various
Count of distinct funds: 3
Losses -- and more importantly, withdrawals -- sent this Soros-alum-founded outfit reeling over the past year, leading to throwing in the towel as of May 8th, 2009. Bloomberg has more:
That is a sizeable set of out-of-work hedgies. We wish them luck.
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Important: This fund is on our list of hedge funds that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective. The "imploded" list contains hedge funds (or other unregulated and autonomous speculative investment funds) which have gone through some sort of permanent adverse change. This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid mark-downs in net asset value; or abnormal "bail-out" by corporate parents or peers in order to avoid write-downs and provide liquidity. The funds are of any type and sector.