Hedge Funds: Coffey’s Kirkoswald Asset Management To Stop Accepting New Cash

January 27, 2020 | Fund Updates, Hedge Funds, News

Effective end-March, global macro hedge fund manager Greg Coffey will not accept new money into his two-year-old portfolio.

Greg Coffey’s Kirkoswald Asset Management, which last year earned 28%, will stop accepting new investments. It trades in global equities, bonds, and currencies, and the move is a bid to protect returns.

Assets are likely to amount to nearly $ 2 billion by the end of the first quarter, said an investor who spoke with the fund manager. It has become difficult for the larger funds to generate returns, and research has shown that smaller, more nimble funds are doing better.

Meanwhile, his 28% return in 2019 beat by a huge margin the gain of 6.16% in the HFRI Macro (Total) Index, according to Business Recorder. Profits on equities that benefited from low central bank interest rates, as well as rising interest rates in certain developed and emerging markets, helped drive the outperformance.

Greg Coffey has reportedly returned 30% a year on average over his 17 years’ career of managing money.

Greg Coffey

Australian Greg Coffey earned his spurs as a macro investor at the GLG hedge fund. In the bull market of 2005 – 07, Coffey reportedly earned hundreds of millions of dollars and the nickname “the Wizard of Oz.”

He later moved to Louis Bacon’s Moore Capital Management. Billionaire Bacon is said to have described Coffey as “the most impressive trader I’ve ever seen.” In an irony of sorts, Bacon said November that he will close Moore Capital and return money to investors.

In 2012, at age 41, Coffey had decided to retire to spend more time with his family.

In early 2018, he and former colleague James Saltissi joined forces to launch Kirkoswald (previously known as Abbeville Partners).

Related Story:   Hedge Funds Record Best Year Since 2013, But Departures Loom                                               

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 29, 2020

Venture Capital: The Kobe in “Bryant Stibel & Co”

Venture Capital: The Kobe in “Bryant Stibel & Co”

Latest Alternative Investment News

DailyAlts Weekend Reading List – February 21, 2020
February 21, 2020     News

The DailyAlts weekend reading list features the best news and commentary from around the web.

Real Estate: National Association of Realtors Issues Report on Cannabis
February 21, 2020     News, Real Estate

The National Association of Realtors recently released a report outlining the impact of cannabis on commercial and residential real estate. As legalization spreads across the United States, the industry is…

Pierre Andurand and His Hedge Fund Struggle in January
February 21, 2020     Hedge Funds, Investments, News

Pierre Andurand and his hedge fund had a tough start to the year. Andurand Capital Management shed 8% last month due to the slump in oil-and-gas commodities, according to a report…

Digital Assets: Singapore-based Digital Exchange BiKi.com Launches Its First IEO in 2020
February 21, 2020     Digital Assets, News

Singapore-based digital exchange BiKi.com launches its first IEO in 2020. The Initial Exchange Offering (IEO) will launch the token XB of the XueBi trading platform.

Scroll to Top