2008-06-20 — finalternatives.com
New York-based Manhasset Capital is reportedly liquidating its hedge funds and shutting down at the end of the month after its seed investor pulled out its $100 million investment in the funds.
Manhasset’s Fairfield Manhasset Offshore fund and its onshore version managed $165 million in total assets, all from Fairfield Greenwich Group, a $16.4 billion hedge fund shop, and two other investors, according to HFAlert. Fairfield seeded the offshore vehicle and had a three-year profit-sharing agreement with the firm. The agreement expired on May 1.
Not really an "implosion" per se but definitely part of a general contraction.
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