Forbes – Investor Timothy Barakett on Tuesday said Atticus Capital, which suffered some of the hedge fund industry’s steepest losses last year, is closing two of its three funds and will return $3 billion to shareholders.

The Atticus founder and chief executive told investors in a letter that he is closing down his flagship fund, Atticus Global, and the $600 million Atticus Trading fund ‘solely’ for personal reasons.

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Tags: atticus, chief-executive, hedge fund, investor, investors, losses, personal-reasons, shareholders, timothy barakett

Telegraph.co.uk – RIT Capital Partners, Lord Rothschild’s investment vehicle, had £36.5m ($58.3m) allocated to Atticus at the end of March 2008, but the company’s latest annual report shows the money has been entirely withdrawn.

The trust had invested in Atticus since 2000, and the holding was its largest single hedge fund investment last year.

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Tags: 3m, annual report, atticus, fund-investment, hedge fund, investment vehicle, lord rothschild, money, rit capital partners, rsquo, telegraph

West Palm Beach (HedgeCo.net) – Recruiters at WhiteRock Group are seeing increased opportunity for job-seekers and hiring firms.

The meltdown in sub-prime mortgages, and the ensuing credit crunch, has led to uncertainty and turmoil throughout financial markets worldwide, says WhiteRock, but as with any deal, what’s bad news for one party is often very good news for another.

"There’s never been a better time to look for a job on Wall Street, or the Asian financial markets," says Gustavo Dolfino, founder and chief executive officer of WhiteRock Group. And amazingly, there’s never been a better time to be looking for talent either."

To understand why the recruitment business is booming even as the industry appears to be retrenching, one must understand that the overheated markets of the past few years have actually made recruiting more difficult.

Dolfino, who was quoted last week in Crain’s New York Business as well as the Wall Street Journal and is frequently interviewed for market perspective by CNBC, Bloomberg News and other financial news services, explains.

"With markets soaring these past few years, the price of top talent went through the roof. Everyone had golden handcuffs. Nobody wanted to work for anything but a top-tier firm. Now, you’ve got a situation where suddenly all those people who were ‘unhirable’ might be available. And they don’t necessarily want to work at a top-tier firm – those are the ones who’ve been in the paper everyday, mostly with bad news. Right now, the smart money is picking people up."

Dolfino pointed out that the greatest growth is currently in Asia, especially China, where "If you can get a CFO on the phone, you can get a job." He adds, "And we have everyone’s phone number."

To keep up with this still exploding demand, WhiteRock Group has opened three new offices, all in Asia, and brought on more top recruiting talent. The company is now nearly fifty professionals strong and expects to add to that number before year’s end.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

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