06/04/2011 Author: Elana Margulies

Ramius set to wind down onshore multi-strategy FoHF

Ramius, the Cowen Group’s $9bn alternative investment management business, is in the process of liquidating the onshore version of its multi-strategy fund of hedge funds (FoHF), HFMWeek has learned. According to a source familiar with the plans, the Ramius Multi-Strategy FOF LP is winding down due to the low-rate environment after the low-volatility portfolio’s single-digit returns failed to pick up traction with investors.   However, the offshore version of the fund, which has $140m under management, is still trading. Data provided to BarclayHedge revealed that the majority of the onshore’s underlying investments were in fixed-income, equity long/short and event-driven hedge fund managers. Launched in January 1998, it had $36m under management. Last year it returned almost 5%, and in 2009 it posted 8%. Last year, HFMWeek reported that Ramius was liquidating its two multi-strategy hedge funds, the Ramius Multi-Strategy and Ramius Enterprise funds, due to ongoing and future redemptions.