Andor Capital Management

Andor Capital Management & Daniel Benton

The following piece on Andor Capital Management is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.

___________________________________

Andor Capital Management, a US hedge fund managing about $2bn in assets, is to close down and return money to investors. Daniel Benton, co-founder of Andor, is retiring from managing outside capital after 24 years in the investment business, he told investors on Wednesday in a letter seen by the Financial Times. Andor was spun off from Art Samberg’s Pequot Capital Management in 2001. He built a reputation as a leading technology investor at Pequot, following years as a star technology analyst at Goldman Sachs.

“My desire to devote more time to my family and other interests runs counter to the obligations of a hedge fund manager who must be immersed in the markets in order to meet client expectations,” Mr Benton said. People with knowledge of Andor’s performance said its stock fund has lost some money this year amid the market turbulence that has caused troubles for many hedge funds, but was by no means among the worst performers.

Investors in Andor will receive money back starting in October, according to the letter. The fund will continue investing until the end of September after which final payments will be made following the completion of an outside audit for the period ending September 30 2008.
Mr Benton had a well-publicized split with his co-founder at Andor, Christopher James, in 2004.
A spokesman for Andor did not return calls seeking comment. Read the full story here.

- Richard

Subscribe To this Blog via Email Or RSS

Articles related to Andor Capital Management & Daniel Benton:

• Hedge Fund Tracker Tool
• Man Group Announces First Ever Hedge Fund Trading Platform
• Man Annual Hedge Fund Report
• Goldman Sachs Hedge Fund Launch
• Goldman Sachs Hedge Fund
• Children’s Investment Fund Management TCI
• Hedge Fund BullDog Fund Sues SEC
• Renaissance Technologies
• Hedge Fund News
• Hedge Fund Databases
• Man Investments Hedge Fund Profile

Permanent Link: Andor Capital Management & Daniel Benton

Tags: Andor Capital Management, Andor Capital LLC, Andor Capital, Inc., Andor Capital Management Hedge Fund, Hedge Fund Manager Daniel Benton, Andor Capital Management Closes

Last 5 posts by Richard C. Wilson

• Hedge Fund Pitch Book | Marketing Materials - February 11th, 2009
• Hedge Funds and Private Equity in 2009 and 2010 - February 6th, 2009
• Hedge Fund Business Model Discussion | Video - February 4th, 2009
• Private Equity Regulation in Europe and America - February 3rd, 2009
• Prime Broker Market | Opportunities Challenges - February 2nd, 2009