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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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New York Hedge Fund Shutting Down

Feb 03, 2014
Jing Chen

Hedge fund firm Exis Capital is shutting its doors following disappointing performance last year.

The Wall Street Journal reported that the New York-based firm, which lost 5.1% in 2013, has not notified investors of the decision as of Sunday. It was not disclosed why Exis Capital founder Adam Sender is closing the hedge fund nor his plans after the firm’s closure.

The article added that Sender has expressed in the past that Fairfax Financial Holdings’ lawsuit against Exis and other hedge funds may have affected the firm’s ability to raise assets. Toronto-based Fairfax Financial alleged that it was targeted in a short-selling conspiracy by the group; a New Jersey State Court judge dismissed the suit against Exis and Sender in 2012.

Sender, also an avid art collector, founded Exis  more than 16 years ago after working at Steve Cohen’s SAC Capital Advisors. Exis, which once managed more than $1 billion in assets had about $75 million in AuM at the end of 2013.

 

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