New York-based hedge fund Roc Capital Management LP is said to be closing down its main fund after a few years of lackluster performance. Beginning in 2009 with slightly over $1 billion in capital, the firm managed by former Deutsche Bank AG (ETR:DBK) (FRA:DBK) (NYSE:DB) arbitrage star Arvind Raghunathan, had assets under management of only $642 million as of March 1.
Roc Capital will look to immediately open a new fund, using employee capital. Using quantitative computer models, Roc Capital selects stocks to buy and sell. This type of firm, known as a “quant fund,” is not to be confused with high frequency trading which is often responsible for market dislocations and anomalies.
Since its inception in January 2012, the long book of the Voss Value Fund, Voss Capital's flagship offering, has substantially outperformed the market. The long/short equity fund has turned every $1 invested into an estimated $13.37. Over the same time frame, every $1 invested in the S&P 500 has become $3.66. Q1 2021 hedge fund Read More
..the hedge-fund firm that counted Deutsche Bank AG (ETR:DBK) (FRA:DBK) (NYSE:DB) and the daughter of billionaire Lakshmi Mittal among its investors, is liquidating its main fund after losing money, according to a person with knowledge of the firm.
Deutsche Bank AG (ETR:DBK) (FRA:DBK) (NYSE:DB) owned at least a 5 percent stake in Roc as of March, according to a regulatory filing. Vanisha Mittal Bhatia and her husband bought a stake of 10 percent to 25 percent in 2011.