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Monday, October 07, 2013

Berkowitz Goes to the Other Side

News summary by MFWire's editors

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.  

Edited by: Katie Lobosco


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