Pensions & Investors – The demise of Stark Investments LP’s flagship multistrategy hedge funds is one of the industry’s largest to date, said industry sources.
Investors were informed last month that Stark Investment’s multistrategy hedge funds will be closed. But the firm, founded in 1988 and one of the oldest hedge fund managers around, is still in business in St. Francis, Wis. Total assets are estimated to be less than $1 billion, down from a peak of $13.6 billion as of Aug. 31, 2007. Its head count is down to 120 people, 300 fewer than in 2007, and those employees now are focused solely on managing funds in Stark’s legacy core strength — credit-related investments.
