Fund closes at Croesus

Croesus Capital Management Corporation is continuing the process it began in December 1999 of windin...

Croesus Capital Management Corporation is continuing the process it began in December 1999 of winding down its emerging markets hedge fund. The decision to close the Croesus-EMTR fund came as a result of severe performance difficulties following the LTCM debacle in 1998. Prior to that, the fund had been one of the best emerging markets fund in the hedge universe. Richard Van Horne, co-founder with Guy Elliot of Croesus Capital Management in Connecticut, explained the firm is in the process of selling all remaining assets and expects the process to be completed by the end of 2000. He added...