{"id":4910,"date":"2006-08-22T00:00:00","date_gmt":"2006-08-22T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"pirate-capital-to-soft-close-at-2-billion","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2006\/pirate-capital-to-soft-close-at-2-billion.html","title":{"rendered":"Pirate Capital to Soft-Close at $2 BN"},"content":{"rendered":"<p>HedgeCo.Net (New York) &#8211; Pirate Capital <span class=\"caps\">LLC<\/span>, the activist hedge fund manager, is planning to soft-close its funds once the firm\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s assets under management reach $2bn, thefirm had an <span class=\"caps\">AUM<\/span> of $1.7bn, as of July 31, 2006, and it is expected that the firm will reach the $2bn mark within the next one to two months.<\/p>\n<div class=\"writeboardbody\">\n<p>    The close is intended to give existing investors an opportunity to increase their investments in the funds. The close will also allow the firm to control overall growth by limiting contributions    from new investors.  <\/p>\n<p>    The funds are expected to re-open to new investors shortly after the short-closing. With subscriptions from more than 250 entities based in 26 countries, the firm has grown significantly since    its inception. On July 1, 2002, Pirate Capital was started with an <span class=\"caps\">AUM<\/span> of just $2MM.  <\/p>\n<p>    Pirate Capital serves as the investment advisor to four event-driven hedge funds: Jolly Roger Fund LP, Jolly Roger Offshore Fund <span class=\"caps\">LTD<\/span>, Jolly Roger Activist Fund LP, and    Jolly Roger Activist Fund <span class=\"caps\">LTD<\/span>. Pirate Capital is registered with the Securities and Exchange Commission as an investment advisor under the Investment Advisers Act of    1940.  <\/p>\n<p>    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: Editor@hedgeco.net  <\/p>\n<p>    HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge    Funds!  <\/p>\n<p>    <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=\"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong>    and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; Pirate Capital LLC, the activist hedge fund manager, is planning to soft-close its funds once the firm\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s assets under management reach $2bn, thefirm had an AUM of $1.7bn, as of July 31, 2006, and it is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4910","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4910"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4910\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}