Deephaven Capital Management
| Type | Private |
|---|---|
| Industry | Hedge funds |
| Founded | 1994 |
| Headquarters | Minnetonka, Minnesota, U.S. |
| AUM | US$4 billion (at its peak) |
| Website | http://www.deephavenfunds.com/ |
Deephaven Capital Management, LLC was a subsidiary of Knight Capital Group that managed various hedge funds. Deephaven was founded in 1994 with $5 million in assets and at its peak managed $4 billion in assets in six different hedge funds.[1]
Downfall[]
In late 2008, Deephaven froze its Global Multi-Strategy Fund with assets of $1.6 billion.[2] The fund lost 32% in 2008, which resulted in investors requesting to withdraw 30% of their funds.[3] Until then, the fund had yearly returns of 16%. In 2009, Deephaven sold its assets in the Global Multi-Strategy Fund to for $7.3 million.[3] Upon the sale, Deephaven's remaining assets were sold off; the office furniture was sold for cents on the dollar to a local asset manager, Disciplined Growth Investors.[4]
External links[]
References[]
- ^ Strasburg, Jenny. "Deephaven Shuts Hedge Fund After Redemption Requests (Update3)". Bloomberg. Retrieved 28 June 2014.
- ^ "Deephaven Freezes Multistrategy Hedge Fund to Avoid Asset Sales". Bloomberg. October 31, 2008.
- ^ a b "Deephaven to Sell Flagship Fund". NYTimes.com. January 27, 2009.
- ^ Star Tribune, October 23, 2009 Archived January 9, 2010, at the Wayback Machine
- Financial services companies of the United States