Matt Grossman to Close $440 Million Hedge Fund Plural Investments

August 23, 2012 James Heinsman In the News

Matt Grossman, a SAC Capital Advisors alum, recently announced that he is closing Plural Investments, his $440 million hedge fund.

Money will be returned to investors by the end of the month, while new clients have been told that investment opportunities are now closed. Grossman explained that he would like to spend more time with his family, as well as “to have a significantly more flexible investment mandate than the one we have pursued since the launch of the funds.”

“We are close to a tipping point with respect to the effectiveness of government intervention in the economy as well as investor preference for fixed-income over equities,” he said, explaining that the best opportunities demand more market exposure and flexibility than Plural’s long/short equity allowed.

Plural Investments is most definitely not suffering from performance issues. Since Grossman founded it in 2008, the fund has returned in excess of 8% in 2009 and 2010, while recording no losses in 2011 despite the economic crisis. This year has already seen an increase of 4.5%.

equity, Hedge Funds, Matt Grossman, Plural Investments, SAC Advisors,

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