AUM In Pine River Multi-Strategy Fund Said To Fall 68% In Last 12 Months

Aug 9 2017 | 10:44pm ET

Pine River Capital Management, which reportedly decided to end long/short equity trading in July in favor of a more event-driven approach anchored on M&A and spinoffs, has seen assets in its flagship multi-asset fund decline by approximately 68% in the year through the end of July.

AUM in the fund dropped from approximately $3 billion in July of last year to $960 million last month, according to a Reuters article referencing HSBC data. Pine River’s total assets under management have fallen from around $15 billion in 2015 to $8.5 billion in July 2017, the article added, citing an unidentified source close to the firm.

Pine River has been restructuring its business since the AUM peak, shuttering its $1.6 billion fixed-income fund following the departure of co-manager Steve Kuhn in the spring of 2016 and announcing plans to spin off Renos Dimitriou’s $1.7 billion government bond-trading fund into a separate entity named Elan Capital Management next year. 

Based in Minnesota, Pine River was founded in 2002 by Brian Taylor, Jeff Stolt, Aaron Yeary, and Nikhil Mankodi.

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