Navigation

Current news for this fund:


Sowood Capital Management - General

2007-07-29

Count of distinct funds: 2

Comment on this article | Subscribe by email!

stories: bloomberg.com, bloggingbuyouts.com

This fund lost approximately 50% of its value, or $1.5 billion in the month of July, amidst a credit crunch and general market turmoil. The firms two funds, Alpha and Alpha LP, were the key ones impacted. The company is being shut down and its positions sold to Citadel.

Sowood was run by Jeff Larson, who was formerly an endowment manager at Harvard. The university had about $500 million invested in Sowood funds and lost about $350 million of that. Oopsie!

Interestingly, the funds had no subprime mortgage exposure, per se. They were nabbed by a general drain in liquidity.

permalink to this record | forum thread


Comments: Be the first to add a comment

add a comment | go to forum thread

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.