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$100 Million Hedge Fund to Liquidate

Filed in archive Hedgetalk by Alex Akesson on January 12, 2009

$100 Million Hedge Fund to Liquidate
According to a Reuters UK exclusive, hedge-fund firm GMB Capital Management, after loosing more than $50 million, is shutting down Boston-based GMB Low Volatility Fund LP. The fund had more than $100 million in assets.

GMB Capital is run by MIT professor Gabriel Bitran and his son Marco. The father-son team told investors that the hedge fund would rely heavily on Bitran's complicated algorithms to deliver low volatility where prices almost never change, Reuters reported. Instead, they invested with Madoff, making themselves and those who trusted them victims of the Madoff debacle.

Full story available at; Hedge fund shuttering after Madoff bet







Permalink: $100 Million Hedge Fund to Liquidate
Tags: hedge+fund  hedge  fund  2008  2007  million+hedge  hedge+funds 

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