09/11/2011 Author: Elana Margulies

Anchor Point Capital shuts down operations

Anchor Point Capital Management, the Florida-based investment manager co-founded by Albert Hsu, is to close.
According to sources familiar with the plans, the firm is winding down all its offerings, including a commodities fund of hedge funds it rolled out in mid-2010, following the global macro strategy and hedged equity offerings.

Following Hsu’s arrest on charges of sexual assault in 2007, Timothy Crowe, Anchor Point’s co-founder, took charge of the firm.

Hsu and Crowe started the manager in mid-2005. Previously Hsu was US investment officer of Atlantic Philanthropies in New York. He also held positions at the Ludwig Institute for Cancer Research, Xerox Corp and Commonfund. Meanwhile, Crowe spent 15 years at the John S and James L Knight Foundation where he retired as vice president and CIO in 2005.

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