05/10/2011 Author: Elana Margulies

Sandler closes hedge fund to new investors

Sandler Capital Management, a New York-based registered investment advisor that manages hedge funds and private equity, has closed its long/short strategy to new investors for at least six months following a period of asset growth during the past 18 months, HFMWeek has learned.

According to an investor letter, this time period will allow the manager to evaluate how much additional capital it feels comfortable accepting into the strategy, while remaining liquid and nimble in the markets.

“We will further enhance our infrastructure during this period for our larger asset base and will have taken on at least three new hires in 2011,” the letter read.

Performance and inflows have helped boost the strategy’s assets by more than 200% on a levered basis. It has $1bn under management, while the levered version, Sandler Plus, has $1.6bn.