Portman Square Capital still well short of $500 Million hedge fund launch target

November 29th, 2012
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Former Citigroup and Morgan Stanley star trader, Sutesh Sharma is finding the going much rougher than anticipated in the launch of his new venture, Portman Square Capital. According to Financial News, Sutesh Sharma and his team at Portman Square Capital are working diligently to meet its end-of-year launch target of $500 million, although they have yet to raise even half of that.

In addition to headwinds of a less than ideal fundraising environment, Portman Square Capital experienced a major setback when its strategic investor, PineBridge Investments, de-committed. Failure to raise the $500 million by year-end could doom the new venture which is heavily weighted with more than 10 partners and a large infrastructure. Financial News reports that some anxious Portman Square Capital employees may be ready to jump before year-end.
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Jobs, Hirings and Firings; Hedge Fund Launches and Hedge Fund Closings

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