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Ahab Capital Prepares Distressed Fund
New fund will charge 2% management fee and 10% performance fee.
June 9, 2008
Ahab Capital Management will launch a distressed debt hedge fund next month with $25 million in assets.
According to FINalternatives, the fund will invest in companies undergoing bankruptcy and turnaround restructuring processes and will seek a 15% annual rate of return.
New York-based Ahab's fund will also charge a 2% management fee and a 10% performance fee with no lockups, reports FINalternatives, which obtained a fund fact sheet.
Hedge Fund Research found that distressed investment fund assets increased to $105 billion in 2007, compared to $70 billion in 2006.
To read the entire FINalternatives story, click here.
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