Quant Hedge Fund ‘Roc Capital’ Blows Up

Quant Hedge Fund ‘Roc Capital’ Blows Up

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.

Quant Hedge Fund ‘Roc Capital’ Blows Up

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.

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..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.

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