| Dawson-Herman Capital Management is reportedly shutting down its Southport Millennium hedge fund. According to an article by Teri Buhl, the decision was made following a conflict between the firm’s managing partners John Dawson and Russell Herman.|
At the end of 2008, Dawson-Herman Capital had held over $1,350 million in US Equity Assets, but according to its 6-30-09 report, which was filed with the SEC on Thursday, that number has fallen to just $410 million.
According the article, a number of the firm’s investment professionals flooded the street with their resumes towards the end of last week. To see the complete article on DealBreaker, please click Dawson-Herman Shuttering Fund
It’s not clear if the firm’s other hedge funds will continue to operate. Dawson-Herman was founded in 1981 by current Chairman Jonathan Dawson and former managing director Arthur “Art” Samberg, who spun-off from the firm in 1999 to create the now troubled Pequot Capital Management. Previously known as Dawson-Samberg Capital Management, the firm became Dawson-Herman Capital in 2004 when Russell Herman became the new co-managing director and CEO. According records with the SEC, Mr. Herman is the majority owner of the Dawson-Herman, while Mr. Dawson now holds a stake that amounts to less than 25%.