These days, hedge funds are entering '40 Act Country by the truck load. But every once in a while you come across something much unexpected: a mutual fund manager going the other way to enter the hedge fund jungle.
Juliet Chung at The Wall Street Journal
reported yesterday that star mutual-fund manager Bruce Berkowitz
is opening up his relatively new hedge fund to institutional investors.
Berkowitz, the president of Fairholme Capital Management [profile]
, launched the hedge fund on January 1. According to Chung, it has grown to $140 million with money largely from Berkowitz himself and his employees.
Stay ahead of the news ... Sign up for our email alerts now