Satellite Asset Management Ceases to Orbit

May 15th, 2009
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Bloomberg reported this week that hedge fund manager Satellite Asset Management is in the process of winding down after poor performance and heavy client withdrawals. The firm’s assets under management have fallen from $7 billion as of 12/31/07 to approximately $2.8 billion today.

Satellite was founded in 1999 by Lief Rosenblatt, Mark Sonnino and Gabe Nechamkin. Prior to starting the firm, the founders led the Special Situations group at Soros Fund Management LLC. The firm’s fund offerings included the Satellite Funds, Satellite Overseas, Satellite Convertible Arbitrage, Satellite Credit Opportunities and Satellite Financial Services funds.
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For Detailed Investor Profiles on these Investors, click below:
Soros Fund Management
Related People: George Soros; Jeff Eberwein; Robert Donald; Robert Soros; Scott Bessent; Zameer Arora
Related Entities: Pharos Financial Group (seeded) ; Quantum Emerging Growth Fund; Quantum Fund; Quantum Group of Funds; Soros Capital LP; Soros European Equity Fund; Soros Quantum Endowment Fund
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

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