Former Soros Fund Management LLC trader John Zwaanstra plans to return outside capital in Penta Investment Advisers Ltd., the Asia-focused hedge fund he set up in 1998, said two people with knowledge of the matter.
The company plans to give investors more details this week, said the people, who asked not to be identified.
Penta managed as much as $2.9 billion in mid-2011, about 40 percent of which came from Penta principals, said another person. Its assets have fallen below $2 billion, said one of the people familiar with the plan to return investors’ money.
Zwaanstra and John Pridjian, chief financial officer of Penta Investment Advisers, didn’t reply to Bloomberg e-mails. Zwaanstra’s younger brother Todd, who works as a trader at its Hong Kong unit Old Peak Ltd., declined to comment, citing a company policy of not talking to the press.
Read more at http://www.bloomberg.com/news/2012-01-09/former-soros-trader-said-to-return-outside-money-in-asia-hedge-fund-penta.html
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