Jabre Capital Partners to close-off Jabcap Multi-Strategy at $2.5 billion
|February 1st, 2010||
|Jabre Capital Partners announced last week that it plans to close its Jabcap Multi-Strategy flagship hedge fund to new investors for two years after it surpasses $2.5 billion in assets under management. A Financial Times article stated that the flagship fund, which currently manages $2 billion, generated a negative return of 36% in 2008 but bounced back in 2009 with an 85% gain.|
Jabre Capital’s Philippe Jabre stressed the importance of trading off a fund’s AUM growth for high returns, claiming that excessive growth exposes a firm to increased risk and difficulty in decision-making.
Mr. Jabre founded the Geneva-based hedge fund manager in 2007. The hedge fund firm, which has $5 billion in total assets under management, announced last month that it would be managing Pictet Funds’ new convertible bond fund.
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