Stamford Advocate- A Stamford hedge fund that has been steadily losing assets since the summer has informed investors that it has begun liquidating its remaining holdings and plans to close up shop for good.
Sailfish Capital Partners, a private, multistrategy fund with offices on High Ridge Road, made a number of bad credit bets tied to subprime mortgages and has been dramatically affected by the widespread financial credit crunch, the firm’s founding partners, Mark Fishman and Sal Naro, wrote investors earlier this month.
"The normal operations of the fund is no longer in the best interest of the fund’s shareholders," according to the letter, which was read to a reporter by an anonymous Sailfish stakeholder. "We are committed to . . . an orderly sale of the portfolio."
