Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
06/04/2011
Ironbound Capital Management to close
Ironbound Capital Management, the New Jersey-based hedge fund manager established in 2004 by former Merrill Lynch manager Steve Silverman, has decided to shut down its operations.
The firm's flagship offering, the Ironbound Partners Fund, implemented a global long/short equity strategy. Brian Sattinger, the firm's CFO, confirmed that Ironbound was winding down, but declined to provide further details.
Before Silverman established Ironbound, he worked at Merrill Lynch for 19 years. Throughout his tenure there, he was portfolio manager for the Merrill Lynch Pacific Fund and the Merrill Lynch Global Value Fund. He departed in 2002.
HFMWeek previously reported that in 2007, Ironbound was gearing up to raise money for a new Asia ex-Japan fund, which was slated to launch in October of that year.Ironbound Capital Management, the New Jersey-based hedge fund manager established in 2004 by former Merrill Lynch manager Steve Silverman, has decided to shut down its operations.
The firm's flagship offering, the Ironbound Partners Fund, implemented a global long/short equity strategy. Brian Sattinger, the firm's CFO, confirmed that Ironbound was winding down, but declined to provide further details.
Before Silverman established Ironbound, he worked at Merrill Lynch for 19 years. Throughout his tenure there, he was portfolio manager for the Merrill Lynch Pacific Fund and the Merrill Lynch Global Value Fund. He departed in 2002.
HFMWeek previously reported that in 2007, Ironbound was gearing up to raise money for a new Asia ex-Japan fund, which was slated to launch in October of that year.
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