Friday, September 25, 2015

Co-founder Quits Carlyle's Claren Road

WSJ reported:

Claren Road Asset Management LLC co-founder and co-chief investment officer John Eckerson has decided to retire at the end of the year, according to people familiar with the matter, as the firm grapples with poor performance and investor redemptions.
Bloomberg added:

Claren Road investors asked to pull almost half of the hedge fund’s $4.1 billion in assets at the end of the current quarter following losses this year.
The casino needs bettors to win big.  Right now they're fleeing, as is a Claren Road co-founder.