Aug
09
A hedge fund backed by some of the industry’s biggest names, Cerrano Capital LLC, is closing less than a year after it got off the ground, the latest sign of the difficulties new funds are having raising money.
Michael Weinberger’s $230 million hedge fund was launched last year, hoping to raise as much as $1 billion. The fund’s early investors included York Capital Management founder James Dinan and chief investment officer Daniel Schwartz. Billionaire hedge-fund investor Dan Loeb of Third Point LLC was among the investors…
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