(Reuters) Jame Donath plans to shutter his Magnolia Road Capital, the latest casualty in the $3 trillion hedge fund industry where many small firms are struggling to attract and retain capital, according to a letter seen by Reuters. Donath told clients he is liquidating his 5-year-old, New York-based firm which specializes in distressed debt investing. The bulk of capital will be returned by the end of the year, Donath wrote in a Feb. 26 letter.
US Hedge Fund Magnolia Road Shuts Down After Struggling to Raise Capital
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